cnbc
Region: US
Friday 02 October 2026 16:13:57 GMT
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tracycaffrey0 :
• Diesel Highs: Diesel has been hovering at record national averages [near $6.37 per gallon. Because the G7 is heavily front-loading the release of [50 million barrels of diesel within the first 20 days, trucking and logistics lines will see immediate supply stabilization. • Limited Local Relief: U.S. drivers shouldn't expect massive savings on regular gasoline. Experts point out that the 100 million total barrels represent roughly [one day of global demand. Refining bottlenecks caused by [geopolitical conflicts still keep underlying costs elevated.It will temporarily stop prices from getting exponentially worse, but it will not make gas or diesel cheap again. Market experts look at the math with heavy skepticism: • A Literal Drop in the Bucket: Global oil demand is roughly 100 million barrels every single day. Spreading 100 million barrels over four full months means adding just a tiny fraction to daily global supply. Energy analysts at Energy Aspects explicitly noted that the announcement is largely a "political statement" rather than a market-altering cure. • The Russia & China Deficit: Chief energy advisers point out that the volume entering the market is barely half of what the world lost when Russia recently banned its diesel exports due to refinery damage. Combined with China choking off its own diesel exports, the G7 release is mathematically underpowered.The Bottom Line: You are looking at a brief band-aid. It will stabilize logistics lines and keep prices from rocketing to $7 or $8 a gallon right now, but as long as active conflicts block shipping through the Strait of Hormuz, underlying fuel costs will remain painfully high.
2026-10-02 21:59:13
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SARUMAN of Belize :
Yes master, of course master
2026-10-02 16:45:50
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Jeanne Coco Brown Br :
Yes, the G7 agreed to release this in March.? They never released it.🤷♀️
2026-10-02 21:42:20
1
CP Grandelli :
Hmmmm, we’ll see if that happens.
2026-10-02 17:57:51
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MrFrizby621 :
FreeGaza
2026-10-02 17:28:51
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0025wd :
Apparently it was an agreement already made early in the year.
2026-10-02 18:05:05
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Jer5454 :
Fake news more lies 🤣🤣🤣
2026-10-02 20:46:55
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USBrief :
Per the G7 statement, leaders agreed to coordinate an IEA release of 100 million barrels over four months, with diesel prioritized early.
2026-10-02 20:01:53
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ElMonxis :
All that to lower the price by 10 cents
2026-10-02 16:46:21
2
eddi :
they said that, back in March. just another lie
2026-10-02 16:39:18
2
fjelddavid :
Easy to track front running and insider trading... but they never do.
2026-10-02 19:15:36
0
Pari_Banu2023 :
🤤
2026-10-02 16:18:14
0
Queen :
@Harry Gunter Thank you for the great strategy and valuable signals🔥
2026-10-03 10:29:49
0
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