Emergency EU oil meeting focused on securing diesel supply

European Union officials discussed diversifying oil stocks and creating a buffer for diesel and gasoil during an emergency meeting of the bloc's oil coordination group, one told Reuters.

Friday's meeting was called by the EU commissioner for energy Kadri Simson to assess potential supply risks in case the Israel-Hamas conflict triggers a broader regional one.

"Oil is important. Not enough diesel could lead to strikes. We don't want our trucks queuing for diesel," the official said, adding: "Is this a 1973 moment or not?"

This month's conflict in Gaza has revived memories of the 1973 oil shock during the Yom Kippur War, when the Organization for Petroleum Exporting Countries (OPEC) slapped an oil embargo on western supporters of Israel, triggering fuel shortages.

The meeting of the EU's oil coordination group concluded that the risks are much lower than...