Gold and metals

Spokeswoman: EU Rejects Any Ban on Diesel Fuel

The European Union rejected a US threat to ban diesel exports unless Europe releases more fuel stocks, warning that such a move would undermine confidence in the United States as a reliable partner.

Published: October 2, 2026

Listen to this article

An automatically generated audio version.

0:00

Spokeswoman: EU Rejects Any Ban on Diesel Fuel

The European Union rejected a US threat on Friday, October 2, 2026, to ban diesel exports unless Europe releases more fuel stocks, European Commission spokeswoman Anna-Kaisa Itkonen said.

Warning of Undermined Trust

The ban would benefit no one and would undermine our confidence in the United States as a reliable partner.

Anna-Kaisa Itkonen, European Commission spokeswoman

Itkonen said the next meeting of the European Union’s Oil Coordination Group is scheduled for October 15, adding that it could be held earlier if necessary.

Supplies Stable, Prices Elevated

The Energy Union task force met on October 2 to discuss developments in the diesel market and their impact on prices. The European Commission said diesel supplies in the bloc remained stable for now, while prices remained elevated amid tight global market conditions, adding that it would continue to monitor the situation and coordinate with member states.

Read this story in another language

President Abdel Fattah El-Sisi said in remarks at the opening of the El Alamein Africa Business Forum that the current global energy crisis is affecting and putting pressure on African countries because of higher fuel and fertilizer prices, disruptions to supply and shipping chains, and other repercussions.

Iranian goods in Iraq: Available alternatives, but replacement costs challenge markets

Iranian products are widespread in Iraqi markets, supported by their lower prices and geographic proximity. Traders and consumers say that quickly replacing them with Iraqi, Turkish and Arab goods could raise costs, despite the availability of local alternatives and imports from other countries.

Slowing U.S. hiring cuts odds of October rate hike to 25%

A slowdown in U.S. job growth to 29,000, versus expectations for 90,000, strengthened the Federal Reserve's inclination to hold rates at its Oct. 27-28 meeting. Investors cut the probability of a rate hike at that meeting to 25% and increasingly bet on a move in December.