US backs down from fuel export ban threat as G7 agrees to release 100mn barrels

What happened

President Donald Trump said he won’t ban US diesel exports, after Group of Seven nations and their partners agreed to release some of their emergency fuel stockpiles in a bid to bring down soaring prices. The coordinated release is aimed at heading off further price spikes and avoiding a ban on US diesel exports. Donald Trump calls decision by European nations to release diesel from strategic reserves a ‘great thing’ A reduction in refineries has already driven the price of diesel to record highs, threatening economies.

Summarised from: Bloomberg, BBC News, Financial Times, The New York Times.

Full coverage · 6 sources

• Bloomberg 3 October 2026 at 03:47 WIB
  Trump Says US to Hold Off on Diesel Export Ban After G7 Release
• Financial Times 3 October 2026 at 03:31 WIB
  US backs down from fuel export ban threat as G7 agrees to release 100mn barrels
• BBC News 3 October 2026 at 03:25 WIB
  G7 to release 100 million barrels of oil and diesel after Trump export ban threat
• Wall Street Journal 3 October 2026 at 00:55 WIB
  G-7 Agrees to Release 100 Million Barrels of Diesel and Crude
• The Guardian 2 October 2026 at 23:11 WIB
  G7 to release 100m barrels from reserves to combat surging diesel prices – as it happened
• The New York Times 2 October 2026 at 19:36 WIB
  Trump’s Threat to Ban Diesel Exports Sets Off Global Alarms

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