G7 nations plan to collectively release oil from reserves to combat rising prices due to the US-Israel war with Iran, which has disrupted oil exports through the Strait of Hormuz. The International Energy Agency (IEA) is preparing a significant intervention, potentially releasing 300 to 400 million barrels of oil. However, this would only provide a short-term solution, covering a few days of global supply. G7 energy ministers support proactive measures, but concerns about refining capacity and the one-time nature of reserve releases remain. Teljes cikk (bbc.com europe)