New Delhi, Oct. 2 -- US President Donald Trump said Europe has agreed to release a "massive amount" of heavily stocked diesel reserves, as governments respond to tightening fuel supplies across major markets.

The development comes a day after, China moved to restrict exports of diesel, gasoline and jet fuel.

Further, G7 countries on Friday (2 October) agreed to release 100 million barrels of diesel and crude oil from their reserves over four months through the International Energy Agency.

The developments underscore a growing pressure on global fuel markets as disruptions linked to the Middle East and Eastern Europe coincide with tighter refinery supplies and governments become more focused on securing domestic inventories.

The G7 als...