G7 announces oil reserve release, as Trump hails Europe diesel deal

G7 members announced they will release up to 100 barrels of strategic oil reserves over four months, including a significant diesel release within the first 20 days, amid rising prices caused by the US-Israel-Iran conflict. The announcement followed a statement from Donald Trump on social media claiming Europe agreed to release a large amount of stored diesel. Trump had previously threatened to ban US diesel exports if European countries did not comply. The European Union rejected this threat.