US Energy Secretary Chris Wright expressed confidence Europe will release strategic diesel reserves and said he expects gasoline and diesel prices to fall by November's midterm elections. “Absolutely we will ask Europe to release strategic diesel reserves,” Wright said in a Fox News interview Thursday.

Washington has asked the EU to release 120 million barrels of diesel over six months and warned France and Germany of a possible US diesel export ban if they do not draw down emergency stocks, Reuters reported, citing people familiar with the discussions. The two countries hold about 35% of the EU's strategic diesel reserves.

Five European countries agreed Thursday to respond with “one voice” to US pressure, European officials told Politico. No release decision was taken during talks involving the European Commission, Germany, France, Italy, Ireland and Britain, the Financial Times reported. The EU's energy taskforce meets Friday morning to discuss potential releases.