G-7 agrees to release oil reserves to reduce fuel prices after U.S. pressure — Live Feedhttps://www.live-feeds.com/feed/g-7-agrees-to-release-oil-reserves-to-reduce-fuel-prices-after-u-s-pressureContinuously updated, source-cited coverage. G-7 to release 100 million barrels of oil and diesel to lower fuel priceshttps://www.live-feeds.com/feed/g-7-agrees-to-release-oil-reserves-to-reduce-fuel-prices-after-u-s-pressurehttps://www.live-feeds.com/feed/g-7-agrees-to-release-oil-reserves-to-reduce-fuel-prices-after-u-s-pressure#u100954Mon, 05 Oct 2026 02:15:57 +0000G-7 nations agreed Friday to release 100 million barrels of crude oil and diesel from emergency reserves to combat soaring fuel prices. The move follows intense pressure from the Trump administration, which threatened to ban U.S. diesel exports if Europe did not contribute. The announcement led to a drop in oil prices by as much as 5%. The release of refined products is planned over a four-month period to ease supply constraints and reduce costs at the pump.Why it mattersThe Trump administration is facing political pressure over energy costs ahead of the November midterm elections. Global ener