IEA Executive Director: European and global diesel markets are "extremely tight" in supply.

IEA Executive Director Fatih Birol said at a conference in Paris that the diesel market in Europe and other regions is "extremely tight." "I am very concerned about diesel prices," with diesel prices in Europe and the US having hit historic highs. Rising oil prices will drive up agricultural product inflation within months. Liquefied petroleum gas prices are also causing trouble for Africa, India, and other places. When asked whether there would be a new round of strategic reserve releases, Birol said he would make further remarks later on Thursday.