G7 nations to release diesel stocks as wars in Europe and Middle East constrain fuel supplies

I want to flag for you a social media post from President [music] Trump just over the past couple of minutes. It could be significant for global oil markets. What the president has said is Europe has just agreed to release a massive amount of their heavily stocked diesel oil. The process will begin immediately, uh says the president of the United States. Uh a lot of details we don't have here. Obviously, that's a pretty terse message from the president. We don't know, uh based on this comment, who's agreed to this, how much, how soon, uh what the effect of that might be on global diesel markets. But, we do have this reporting from Politico this morning, uh which was uh pretty fascinating out of Brussels, uh saying that French officials had proposed a large release of strategic oil and diesel reserves during talks Friday in Brussels uh after uh pressure from Washington to do just that.