The EU's energy taskforce will meet Friday morning to discuss potential diesel stock releases, two EU diplomats told Reuters, widening talks to a forum that typically includes all 27 member countries. EU trade chief Sefcovic discussed high diesel prices with US Trade Representative Jamieson Greer on Thursday and expressed Europe's desire for a coordinated approach.

Washington has asked the EU to release 120 million barrels of diesel over six months and told France and Germany to draw down emergency stocks or face a possible US diesel export ban, Reuters reported, citing people familiar with the discussions. Europe has become increasingly dependent on US fuel after banning Russian imports and after the war against Iran disrupted Middle East supplies.

The taskforce meeting follows a Thursday call involving the European Commission, Germany, France, Italy, Ireland and Britain. No release decision was taken, the Financial Times reported. Germany's economy ministry said there were no new requirements from the International Energy Agency and warned that the market must not be destabilized. US Energy Secretary Chris Wright has accused several European countries of releasing “only a fraction of the crude oil and petroleum products they pledged.”