Germany will release up to 15 million barrels of diesel, heating oil and crude from emergency reserves, its economy minister told Reuters on Friday, making Europe's largest contribution under a G7-backed effort to ease fuel shortages and curb soaring energy prices caused by the wars in Iran and Ukraine. The International Energy Agency (IEA) agreed on Wednesday to accelerate planned releases from emergency oil reserves amounting to about 100 million barrels, prioritising diesel as governments seek to ease prices of the fuel that underpins transport, agriculture and industry. The US had led a pressure campaign on the European Union to draw down emergency diesel inventories, with President Donald Trump's administration warning that failure to act could lead to an American ban on diesel exports. "Diesel and heating oil will be the first, with crude oil to follow," Germany's Economy Minister Katherina Reiche told Reuters, adding that Germany will fully implement the G7 agreement. "We...
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