The Trump administration has accused several European nations of failing to release oil and refined products from strategic reserves as previously promised. Washington is now pressuring the European Union to dump emergency diesel inventories to lower global fuel prices before the November midterm elections, as U.S. diesel currently averages $6.44 a gallon. The administration is seeking these alternatives to avoid implementing a proposed 90 day ban on U.S. diesel exports.

Reports indicate Europe holds more than 350 million barrels across government and commercial stockpiles, though Germany has signaled it is unlikely to release reserves solely to lower prices. This move follows a U.S. release of up to 40 million barrels from its own Strategic Petroleum Reserve, which contains 283 million barrels. Interior Secretary Doug Burgum confirmed on Tuesday that the White House is weighing multiple options to utilize European stocks to stabilize the market.