President Trump said Friday he will not authorize an export ban on diesel, Reuters reports — stepping back from the threat he issued earlier this week.
The reversal came hours after G7 countries agreed to release diesel and crude oil from their emergency reserves, easing pressure on tight global fuel markets.
Trump had warned France and Germany to release their diesel reserves or face a U.S. export ban. With allies now moving, the White House is standing down the threat.
Energy Secretary Chris Wright had already pushed back on the idea, saying a ban "will not work" and could raise gasoline and jet fuel costs instead.
Sources: Reuters.