BREAKING: The G-7 is agreeing to release 100 MILLION barrels of crude oil and fuel from emergency stockpiles as governme | Hanami
BREAKING: The G-7 is agreeing to release 100 MILLION barrels of crude oil and fuel from emergency stockpiles as governments scramble to bring down soaring diesel prices.
President Trump says European nations will begin releasing a "massive amount" of their diesel reserves immediately.
The agreement also takes a U.S. diesel export ban off the table for now, with G-7 countries pledging not to restrict the flow of energy and petroleum products between partner nations.
The move comes as wars in the Middle East and Ukraine have hammered global diesel supplies, sending prices to record highs in the U.S. and Europe.