Bessent presses Europe to release diesel reserves; oil prices ease

Oil prices eased Friday as the U.S. pressed Europe to help unlock more diesel supply, according to reporting by TheTrucker.com on Oct. 2, carrying an Associated Press report. On Thursday, Treasury Secretary Scott Bessent posted on the social media platform X that America's European partners should deliver existing diesel commitments faster and make additional supplies immediately available.

"American farmers, truckers, and businesses should not be left carrying the burden of a global diesel shortage," Bessent wrote. "America is doing its part. We look to our allies to match their commitments with action."

Brent crude, the international benchmark, fell 2.4% to $99.88 a barrel after advancing Thursday; U.S. benchmark crude dropped 3.7% to $89.47. The push on Europe comes as the U.S. deployed another aircraft carrier and thousands more troops to the Middle East, with President Donald Trump threatening more escalation against Iran — after warning Wednesday he would "blow them up" or make a deal. Brent remains far above the roughly $72-a-barrel level of late February, before the war.

Any credible path to diesel relief is the single biggest pocketbook issue in trucking right now, with the national average still near historic highs. But as the week showed, the pressure on prices and the pressure on supply are moving on two different tracks — one geopolitical, one at the refinery.

Source: TheTrucker.com