Global crude oil prices softened following the Group of Seven’s decision to comply with U.S. pressure to tap into strategic petroleum reserves, easing concerns over tight supply amid rising demand. The move came after sustained lobbying from Washington, marking a rare instance of coordinated action among major economies to stabilize energy markets. Analysts will now watch whether the released stockpiles provide lasting relief or merely a temporary reprieve for refiners and consumers. The development underscores the delicate balance between geopolitical influence and market stability in the oil sector.
Crude oil prices eased after G7 leaders bowed to US President Donald Trump’s demand to release oil and diesel reserves.
