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G7 to release 100 million barrels of oil and diesel, will it curb prices?
Global energy prices have been soaring due to the US and Israel’s war on Iran and Russia’s war on Ukraine.
Summary
Global energy prices have been soaring due to the US and Israel’s war on Iran and Russia’s war on Ukraine. The Group of Seven countries has agreed to release 100 billion barrels of crude oil and diesel from emergency reserves over several months in an effort to reduce soaring energy prices after pressure from US President Donald Trump.
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