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Germany will release diesel, heating oil and crude from its reserves, accelerating the commitment it made to the IEA in March.
Tightening global diesel markets prompted the International Energy Agency to call on its members to accelerate previously agreed releases from strategic oil reserves, prioritising diesel. The IEA also asked member states to assess "whether additional diesel releases are necessary".
Danske Bank flagged a temporary US sanctions waiver on Russian diesel, while markets also looked ahead to Germany and US inflation prints this week.