International
G7 agrees to release 100 million barrels of fuel reserves
BBC7h
THE BRIEF
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The G7 agreed to release 100 million barrels of oil and diesel over four months to ease soaring global energy supply pressures and prices.
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The coordinated IEA action follows US President Donald Trump threatening a diesel export ban, which was averted after European nations agreed to release stocks.
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The release includes a frontloaded diesel supply within the first 20 days, while global benchmark Brent crude traded around $102 a barrel on Friday.