G7 to release 100 million barrels of oil and diesel, will it curb prices? | US-Israel war on Iran News | Al Jazeera

The G7 countries have agreed to release 100 billion barrels of crude oil and diesel from emergency reserves over several months to reduce soaring energy prices, following pressure from US President Donald Trump. The US and Israel’s war on Iran, along with Russia’s war on Ukraine, have driven global oil and diesel prices higher. The release will start immediately and last four months, including a significant diesel release for 20 days, with discussions on additional releases to follow.