US Energy Secretary Wright ‘highly confident’ Europe will release diesel stocks

Oct 1 (Reuters) – US Energy Secretary Chris Wright told Fox News on Thursday that he was “highly confident” Europe could help ease soaring global fuel prices by drawing down emergency diesel inventories to help ease soaring global fuel prices, adding: “I think we have some positive news coming.”

The Trump administration has told Germany and France to draw down emergency diesel inventories to help ease soaring global fuel prices or face a potential US diesel export ban, according to three people close to the discussions.

“Europe can help the situation as well, and I’m highly confident they will. This is a time for a coordinated release of diesel stores as we go into to harvest season and we go into winter heating oil season. Now’s the time to bring more diesel to the market, and that diesel is available. I think we have some positive news coming,” Wright said. 

(Reporting by Michelle Nichols, editing by Caitlin Webber)

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