G7 Withdraws 100M Barrels from Reserves

The Group of Seven countries plan to release up to 100 million barrels of oil and diesel stocks over the next four months as part of efforts to lower fuel prices. This comes after pressure from the Trump administration, which warned of imposing a ban on diesel exports that could threaten Europe's supplies, which rely on imports to cover production shortfalls. A previous plan to release 400 million barrels was coordinated in March following the start of the Iran war, but Trump criticized Europe for not activating it quickly. As a result of the measure, the diesel premium over crude oil has decreased, indicating an improvement in market supplies.

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