G7 Agrees to Release 100M Barrels of Oil and Diesel
Group of Seven nations agreed to release 100 million barrels of emergency oil and diesel reserves. The coordinated move aims to cool surging fuel prices linked to the ongoing conflict involving Iran.
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Group of Seven nations agreed on Friday afternoon to release 100 million barrels of diesel and crude oil from emergency reserves. The coordinated action follows intense pressure from the United States to cool soaring fuel prices driven by the conflict involving Iran. The release will run for four months, featuring a frontloaded diesel delivery within 20 days.
