G7 to release 100 million barrels of oil as fuel prices soar
The Group of Seven industrial nations said they agreed to release 100 million barrels of oil, starting with "substantial" amounts of diesel after the fuel recently hit record high prices in the United States, where President Donald Trump said the diesel release would happen "immediately." Trump and his Republican Party face pressure to address surging prices ahead of November's midterm elections.…
The Group of Seven industrial nations announced plans to release 100 million barrels of oil, starting with substantial amounts of diesel, as fuel prices have soared to record highs in the United States. President Donald Trump expressed his intention to address the issue immediately on social media, citing Europe's agreement to release their heavily stocked diesel oil. The release is expected to begin right away, with the International Energy Agency coordinating the effort to combat soaring fuel prices.
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