G7 Leaders Release Oil Reserves to Ease Soaring Fuel Prices

The G7 countries have agreed to release up to 100 million barrels of diesel and crude oil from their reserves over four months to ease global energy supply concerns.

This move comes amid soaring fuel prices, particularly in the US, which has been affected by the ongoing conflict between the US and Iran. The US President Donald Trump is facing pressure at home due to high fuel costs, a key issue ahead of midterm congressional elections.

The G7 leaders, who held a video conference convened by French President Emmanuel Macron after his conversation with Trump, also pledged not to impose export restrictions on energy products between them.