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🇪🇺Europe just agreed to spend its diesel buffer. The G7 will release up to 100M barrels of oil and diesel over four months, after 🇺🇸Washington threatened a diesel export ban. 🇫🇷France's plan puts 50M barrels of that in diesel. That's 415k b/d, which is real short-term relief. The below chart shows the cost. EU emergency diesel stocks were already down to 275M barrels in June. Take out 50M and they fall to 225M, below the 2022 low 📉 Relief now, and a thinner cushion going into winter. https://t.co/iSZnD48qVL