<p class="wp-block-paragraph">The Group of Seven (G7) nations plan to release up to 100 million barrels of oil and diesel from its emergency stocks following pressure from the Trump administration.</p>
<p class="wp-block-paragraph">French President Emmanuel Macron, the G7 chairman, stated on Friday that the release would be coordinated by the International Energy Agency and would take place over the next four months.</p>
<p class="wp-block-paragraph">The conditions would include a release of diesel within the first 20 days by G7 members and partners. The group plans to convene within several days to discuss releasing additional diesel. Macron noted that the decision would help to increase production flexibility to maximize refinery capacity.</p>
<p class="wp-block-paragraph">The G7 leaders in a statement also called for the "immediate and full restoration of navigational rights and principles in the Strait of Hormuz" and expressed their determination to redouble collective efforts to that end.</p>
<p class="wp-block-paragraph">They commended the United States for its efforts to ensure the free flow of commerce through the Strait of Hormuz.</p>
<p class="wp-block-paragraph">The Trump administration has been pressuring European countries to release emergency stocks to curb global fuel prices, which have been elevated due to conflicts in the Middle East and Ukraine.</p>
<p class="wp-block-paragraph">President Donald Trump wrote on Truth Social, "Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately."</p>