Energy and Market News Summary

⑴ There are reports that the United States has requested Germany and France to utilize their emergency diesel reserves. ⑵ Diesel prices have reached a new high in 12 EU countries. ⑶ The US Secretary of Energy stated that she is highly confident that Europe will release diesel reserves. ⑷ US President Trump said the United States will soon replenish its Strategic Petroleum Reserve. ⑸ According to Goldman Sachs, if the US bans diesel exports, Latin America will be hit the hardest. ⑹ EU countries are holding consultations on the release of diesel inventories and said they are maintaining contact with senior US officials. ⑺ Traders report that the Asian gasoline crack spread has risen to a record high of $50.53 per barrel. ⑻ India's Minister of Petroleum stated that he will request private fuel retailers to withdraw restrictions on fuel sales. ⑼ According to officials, Vietnam's largest refinery will suspend operations for about 50 days starting in August next year for routine maintenance. ⑽ US Trade Representative Greer said that Europe should release part of its diesel inventory and has already discussed diesel reserves with France. ⑾ Germany's Ministry for Economic Affairs and Climate Action stated that the International Energy Agency currently has no new requirements and does not speculate on possible future events. ⑿ Canadian Prime Minister Carney said that Canada will designate the proposed West Coast oil pipeline as a national interest project, and the new pipeline will reduce its dependence on oil exports to the United States.