G7 to release 100 million barrels of oil and diesel after Trump threat

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G7 to release 100 million barrels of oil and diesel over four months.

The move aims to stabilize prices and support the haulage and agriculture industries.

US President Trump withdrew threats of a diesel export ban following the agreement.

The initiative emphasizes international cooperation on energy supply security.

The G7 nations have announced a coordinated release of 100 million barrels of oil and diesel from their strategic reserves. This four-month initiative aims to stabilize global energy markets and prevent further price spikes that threaten the haulage and agricultural sectors.

The decision follows intense pressure from US President Donald Trump, who had threatened to ban US diesel exports unless European allies increased their own supply contributions. Following the agreement, the threat of an export ban has been withdrawn, with leaders emphasizing a collaborative approach to energy security.

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