G7 finance ministers temporarily refrain from releasing strategic oil reserves

A G7 official stated that G7 finance ministers reached a broad consensus during a conference call on Monday to temporarily withhold the release of strategic oil reserves. The meeting discussed the measures taken by the United States and Israel to respond to the surge in oil prices caused by the Iran war. The finance ministers stated that they are prepared to take necessary measures to support global energy supply, including releasing inventories, but have not yet decided on implementation. The official stated that G7 energy ministers will hold a conference call on Tuesday, and G7 leaders will discuss the matter later this week. The final decision may be made by the leaders of each country.