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Last Updated:March 09, 2026, 21:19 IST
French Finance Minister said G7 countries haven't decided on releasing emergency oil stocks amid the US-Israel war on Iran, stressing market stabilization tools.
French Finance Minister Roland Lescure addresses the media following a G7 Summit of Finance ministers via video conference in Brussels on Monday. (Image: AFP)
French Finance Minister Roland Lescure on Monday said G7 countries have not yet made a decision n the potential release of emergency oil stocks in the wake of the US-Israel war on Iran.
“We are not there yet…What we’ve agreed upon is to use any necessary tools if need be to stabilize the market, including the potential release of necessary stockpiles," Lescure told reporters in Brussels after an online G7 meeting of finance ministers.
He said the governments were following the situation and at present there were no supply problems in either Europe or the United States.
The remarks as the oil surged to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruption gripped the market due to the expanding US-Israeli war with Iran, Reuters reported.
Location :
Brussels, Belgium
First Published:
March 09, 2026, 21:19 IST
News world G7 Countries Yet To Decide On Releasing Oil Stockpiles: France
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