French President Emmanuel Macron is preparing to hold communications with his G7 counterparts to discuss practical measures regarding global crude oil and refined product markets, amid ongoing diplomatic efforts. This development follows a telephone discussion held with US President Donald
Trump, according to the official circles at the Elysee Palace. Macron emphasized the importance of joint efforts and enhanced cooperation among G7 nations to address the challenges of rising fuel prices, while stressing the need to ensure the continuity of
refined product flows without imposing restrictions on export operations. In a related context, data indicated that the French side submitted an official request to its partners within the European Union stipulating the need to release additional quantities of diesel inventories,
in response to demands and pressures coming from the American side calling for pumping more supplies to curb the soaring fuel prices. The countries of the European bloc held an emergency meeting on Friday to reach a collective and unified
response formula, amidst American accusations that the efforts exerted are not sufficient. The European Commission and member states had arranged for this urgent meeting to discuss ways to confront the crisis, especially after diesel prices in the stations of the
old continent recorded unprecedented levels where the weekly average reached 2.24 euros per liter, a slight increase from the previous week. The US administration believes that European countries must contribute effectively by withdrawing quantities from their reserves to support market
stability. In this regard, US Treasury Secretary Scott Bessent stressed via the X platform the necessity for European partners to fulfill their obligations and provide immediate supplies to address market disruptions. For his part, US Energy Minister Chris Wright called,
during media statements, on Europe to play its role and achieve a coordinated move to release inventories with the approach of the winter season, while US President Donald Trump went further by hinting that Washington might officially ask European allies
to use their strategic diesel reserves.
