G7 members agree to release 100 million barrels of diesel and other reserves

… </style></div><div id="fusion-static-exit:c0f29We4wdk62HE" style="display:none" data-fusion-component="c0f29We4wdk62HE"></div><div id="fusion-static-enter:f0fuNXQ1ZpAa1JU" style="display:none" data-fusion-component="f0fuNXQ1ZpAa1JU"></div><hr class="defaultstyled__StyledDivider-sc-a279n6-0 iQKNEr" data-identifier="divider" size="1" color="var(--global-grey-3)" type="organisms/Divider" name="Divider - TheNational"/><div id="fusion-static-exit:f0fuNXQ1ZpAa1JU" style="display:none" data-fusion-component="f0fuNXQ1ZpAa1JU"></div><div data-fusion-lazy-id="c0f2qiyEYx941uL"><article data-identifier="article-body-chain" class="defaultstyled__StyledArticleBody-sc-11u52t4-4 jOWRci article-version article-full-version article--standard margin-lg-top" id=""><div id="fusion-static-enter:el-0-G4Q6EVPYTRG65KN2OYRRUZMY6Y-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-0-G4Q6EVPYTRG65KN2OYRRUZMY6Y-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-0-G4Q6EVPYTRG65KN2OYRRUZMY6Y"><span data-translator-highlight-target="true">G7 member countries agreed on Friday to release 100 million barrels of <a href="https://www.thenationalnews.com/business/energy/2026/10/02/oil-prices-stable-amid-mixed-supply-signals-from-the-middle-east/" target="_blank" rel="noreferrer" title="https://www.thenationalnews.com/business/energy/2026/10/02/oil-prices-stable-amid-mixed-supply-signals-from-the-middle-east/">diesel</a> and other reserves through the International Energy Agency to help to stabilise markets.</span></p><div id="fusion-static-exit:el-0-G4Q6EVPYTRG65KN2OYRRUZMY6Y-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-0-G4Q6EVPYTRG65KN2OYRRUZMY6Y-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-1-5QDZNKODLVDBHPG2EJDB7H6EGQ-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-1-5QDZNKODLVDBHPG2EJDB7H6EGQ-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-1-5QDZNKODLVDBHPG2EJDB7H6EGQ"><span data-translator-highlight-target="true">A joint leaders' statement, released by the office of French President <a href="https://www.thenationalnews.com/tags/emmanuel-macron/" target="_blank" rel="noreferrer" title="https://www.thenationalnews.com/tags/emmanuel-macron/">Emmanuel Macron</a>, said <a href="https://www.thenationalnews.com/business/energy/2026/06/18/g7-balances-co-ordination-and-competition-with-critical-minerals-alliance/" target="_blank" rel="noreferrer" title="https://www.thenationalnews.com/business/energy/2026/06/18/g7-balances-co-ordination-and-competition-with-critical-minerals-alliance/">G7</a> members agreed to begin the release immediately and continue over four months, including a “front-loaded substantial diesel release within the first 20 days” by members and partners.</span></p><div id="fusion-static-exit:el-1-5QDZNKODLVDBHPG2EJDB7H6EGQ-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-1-5QDZNKODLVDBHPG2EJDB7H6EGQ-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div class=""><div data-fusion-lazy-id="f0fetBh54MNK2Br"></div></div><div id="fusion-static-enter:el-3-WKUQQ6OX4VHZXPEJEGOORJNPYA-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-3-WKUQQ6OX4VHZXPEJEGOORJNPYA-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-3-WKUQQ6OX4VHZXPEJEGOORJNPYA"><span data-translator-highlight-target="true">Oil prices softened after the announcement, with Brent crude trading 1.48 per cent lower at $100.8 per barrel. West Texas Intermediate, which tracks US crude, traded 2.66 per cent lower at $90.40 per barrel.</span></p><div id="fusion-static-exit:el-3-WKUQQ6OX4VHZXPEJEGOORJNPYA-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-3-WKUQQ6OX4VHZXPEJEGOORJNPYA-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-4-O3O2RTHBF5DJDJCCPU4PVSKJSI-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-4-O3O2RTHBF5DJDJCCPU4PVSKJSI-2026-10-02T16:52:01.372Z-static"></div><div data-identifier="key_widget" data-variant="embed" id="el-4-O3O2RTHBF5DJDJCCPU4PVSKJSI" class="indexstyled__StyledKeyWidgetList-sc-5q01rm-0 flndZN margin-md-bottom"><div><div class="defaultstyled__StyledMediaCard-sc-1dedoj7-2 cGLBVl indexstyled__KeyWidgetCard-sc-5q01rm-1 gTGfUe" data-identifier="keywidget"><div data-identifier="container-wrapper" class="Container__StyledContainer-sc-14lnmxl-0 fKaOYi container-wrapper order-0 " display="block" style="position:relative;height:max-content"><figure class="order-0 "><a href="/business/energy/2026/10/02/worlds-top-lng-buyer-sees-qatar-supply-disruption-persisting-into-winter/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs"><picture class="indexstyled__StyledPicture-sc-zcpzxj-0 cQBtGb display_block"><source width="176" height="131.44303797468353" media="(min-width: 768px) and (max-width: 1023px)" srcSet="https://www.thenationalnews.com/resizer/v2/related-CNEXBV4G6YG5BY5GPY4V7DADRE.jpg?auth=d22b707138cba15137c6b835ae6e3bcca1663f0fecac8fcaed29720b2d41bc70&amp;smart=true&amp;width=176&amp;height=131"/><source width="158" height="118" media="(min-width: 350px) and (max-width: 767px)" srcSet="https://www.thenationalnews.com/resizer/v2/related-CNEXBV4G6YG5BY5GPY4V7DADRE.jpg?auth=d22b707138cba15137c6b835ae6e3bcca1663f0fecac8fcaed29720b2d41bc70&amp;smart=true&amp;width=158&amp;height=118"/><img data-chromatic="ignore" alt="World’s top LNG buyer sees Qatar supply disruption persisting into winter" loading="lazy" fetchPriority="auto" src="https://www.thenationalnews.com/resizer/v2/related-CNEXBV4G6YG5BY5GPY4V7DADRE.jpg?auth=d22b707138cba15137c6b835ae6e3bcca1663f0fecac8fcaed29720b2d41bc70&amp;smart=true&amp;width=158&amp;height=118" srcSet="https://www.thenationalnews.com/resizer/v2/related-CNEXBV4G6YG5BY5GPY4V7DADRE.jpg?auth=d22b707138cba15137c6b835ae6e3bcca1663f0fecac8fcaed29720b2d41bc70&amp;smart=true&amp;width=158&amp;height=118 158w, https://www.thenationalnews.com/resizer/v2/related-CNEXBV4G6YG5BY5GPY4V7DADRE.jpg?auth=d22b707138cba15137c6b835ae6e3bcca1663f0fecac8fcaed29720b2d41bc70&amp;smart=true&amp;width=176&amp;height=131 176w" width="158" height="118"/></picture></a></figure></div><div class="defaultstyled__StyledCardDetails-sc-1dedoj7-1 hDGano display_grid order-0"><a href="/business/energy/2026/10/02/worlds-top-lng-buyer-sees-qatar-supply-disruption-persisting-into-winter/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs order-0"><p class="defaultstyled__StyledHeadline-sc-1dedoj7-8 eIuefo b-undefined order-0" font-weight="400">World’s top LNG buyer sees Qatar supply disruption persisting into winter</p></a></div></div><a href="/business/energy/2026/10/02/worlds-top-lng-buyer-sees-qatar-supply-disruption-persisting-into-winter/" class="indexstyled__ActionText-sc-5q01rm-2 feOQZL">Read More<!-- --> <svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="arrow__StyledSVG-sc-kehl4s-0 fIXSMa"><title>Arrow</title><line x1="5" y1="12" x2="19" y2="12"></line><polyline points="12 5 19 12 12 19"></polyline></svg></a></div></div><div id="fusion-static-exit:el-4-O3O2RTHBF5DJDJCCPU4PVSKJSI-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-4-O3O2RTHBF5DJDJCCPU4PVSKJSI-2026-10-02T16:52:01.372Z-static"></div><div id="fusion-static-enter:el-5-JCAIFDUYR5BSJOONFZTRN4RIFA-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-5-JCAIFDUYR5BSJOONFZTRN4RIFA-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-5-JCAIFDUYR5BSJOONFZTRN4RIFA"><span data-translator-highlight-target="true">Data from intelligence firm Kpler showed oil flows through the <a href="https://www.thenationalnews.com/tags/strait-of-hormuz" target="_blank" rel="noreferrer" title="https://www.thenationalnews.com/tags/strait-of-hormuz">Strait of Hormuz</a> rising to near prewar levels as oil producers navigate alternative modes to transport fuel out of the region and the US military escorts some vessels. Kpler data showed at least 16.5 million barrels per day left the Middle East in September.</span></p><div id="fusion-static-exit:el-5-JCAIFDUYR5BSJOONFZTRN4RIFA-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-5-JCAIFDUYR5BSJOONFZTRN4RIFA-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div class=""></div><div id="fusion-static-enter:el-7-BKXBVZVE4NCKFAHV7VBIM6ALXM-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-7-BKXBVZVE4NCKFAHV7VBIM6ALXM-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-7-BKXBVZVE4NCKFAHV7VBIM6ALXM"><span data-translator-highlight-target="true">“Oil shipment figures have improved in recent days, and between Hormuz and the Yanbu pipeline … we are seeing three-quarters of the prewar volumes moving today,” Mr Macron said after a call with G7 leaders.</span></p><div id="fusion-static-exit:el-7-BKXBVZVE4NCKFAHV7VBIM6ALXM-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-7-BKXBVZVE4NCKFAHV7VBIM6ALXM-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-8-2WXRQWVTQBGIJFJQKZE4INUUCI-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-8-2WXRQWVTQBGIJFJQKZE4INUUCI-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-8-2WXRQWVTQBGIJFJQKZE4INUUCI"><span data-translator-highlight-target="true">Leaders also condemned Iran's attacks against its neighbours in the region, while reaffirming they would maintain their sanctions against Russia.</span></p><div id="fusion-static-exit:el-8-2WXRQWVTQBGIJFJQKZE4INUUCI-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-8-2WXRQWVTQBGIJFJQKZE4INUUCI-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-9-JRQRESTQMJAN7E6WJLPJXZAOU4-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-9-JRQRESTQMJAN7E6WJLPJXZAOU4-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-9-JRQRESTQMJAN7E6WJLPJXZAOU4"><span data-translator-highlight-target="true">Moments before the statement was released, US President <a href="https://www.thenationalnews.com/tags/donald-trump/" target="_blank" rel="" title="https://www.thenationalnews.com/tags/donald-trump/">Donald Trump</a> said in a social media post that Europe had “just agreed to release a massive amount of their heavily stocked diesel oil”.</span></p><div id="fusion-static-exit:el-9-JRQRESTQMJAN7E6WJLPJXZAOU4-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-9-JRQRESTQMJAN7E6WJLPJXZAOU4-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-10-QXYXDBEWDREK3CQUV7B7Q6KE3A-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-10-QXYXDBEWDREK3CQUV7B7Q6KE3A-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-10-QXYXDBEWDREK3CQUV7B7Q6KE3A"><span data-translator-highlight-target="true">The conflict in the Middle East and Russia's war against Ukraine have triggered a surge in global diesel prices, amplifying political pressure on Mr Trump at home before the midterm elections next month. Diesel prices in the US hit $6.50 per gallon last week, nearly $3 higher than the same time last year.</span></p><div id="fusion-static-exit:el-10-QXYXDBEWDREK3CQUV7B7Q6KE3A-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-10-QXYXDBEWDREK3CQUV7B7Q6KE3A-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div class=""></div><div id="fusion-static-enter:el-12-2F6GSQLHZVMBIKW4SWFER33YXQ-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-12-2F6GSQLHZVMBIKW4SWFER33YXQ-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><div id="el-12-2F6GSQLHZVMBIKW4SWFER33YXQ" class="defaultstyled__StyledImageComponent-sc-11u52t4-6 jyZZkl margin-md-bottom"><figure><picture class="indexstyled__StyledPicture-sc-zcpzxj-0 hMkDKr display_block"><source width="800" height="534" media="(min-width: 1024px)" srcSet="https://www.thenationalnews.com/resizer/v2/2F6GSQLHZVMBIKW4SWFER33YXQ.jpg?auth=bb2390252dad6a6fe32b09786726643b1d50f16006c34447e1e89307390d5746&amp;smart=true&amp;width=800&amp;height=534"/><source width="600" height="400.49999999999994" media="(min-width: 768px) and (max-width: 1023px)" srcSet="https://www.thenationalnews.com/resizer/v2/2F6GSQLHZVMBIKW4SWFER33YXQ.jpg?auth=bb2390252dad6a6fe32b09786726643b1d50f16006c34447e1e89307390d5746&amp;smart=true&amp;width=600&amp;height=400"/><source width="400" height="267" media="(min-width: 350px) and (max-width: 767px)" srcSet="https://www.thenationalnews.com/resizer/v2/2F6GSQLHZVMBIKW4SWFER33YXQ.jpg?auth=bb2390252dad6a6fe32b09786726643b1d50f16006c34447e1e89307390d5746&amp;smart=true&amp;width=400&amp;height=267"/><img _id="2F6GSQLHZVMBIKW4SWFER33YXQ" type="image" originalheight="5504" data-chromatic="ignore" alt="Fuel prices at a petrol station in Berlin on October 2, 2026. AFP" loading="lazy" fetchPriority="low" src="https://www.thenationalnews.com/resizer/v2/2F6GSQLHZVMBIKW4SWFER33YXQ.jpg?auth=bb2390252dad6a6fe32b09786726643b1d50f16006c34447e1e89307390d5746&amp;smart=true&amp;width=400&amp;height=267" srcSet="https://www.thenationalnews.com/resizer/v2/2F6GSQLHZVMBIKW4SWFER33YXQ.jpg?auth=bb2390252dad6a6fe32b09786726643b1d50f16006c34447e1e89307390d5746&amp;smart=true&amp;width=400&amp;height=267 400w, https://www.thenationalnews.com/resizer/v2/2F6GSQLHZVMBIKW4SWFER33YXQ.jpg?auth=bb2390252dad6a6fe32b09786726643b1d50f16006c34447e1e89307390d5746&amp;smart=true&amp;width=600&amp;height=400 600w, https://www.thenationalnews.com/resizer/v2/2F6GSQLHZVMBIKW4SWFER33YXQ.jpg?auth=bb2390252dad6a6fe32b09786726643b1d50f16006c34447e1e89307390d5746&amp;smart=true&amp;width=800&amp;height=534 800w" width="400" height="267"/></picture><div class="captionstyled__StyledImageCaption-sc-q43va2-0 kVcHha image-caption "><input class="visually-hidden toggle-caption" type="checkbox" id="cap-659b8fca-0fa6-42b5-ba82-885a8436277e"/><figcaption class="captionstyled__StyledCaptionBox-sc-q43va2-3 bNIFhS">Fuel prices at a petrol station in Berlin on October 2, 2026. AFP</figcaption><label data-identifier="caption-trigger" for="cap-659b8fca-0fa6-42b5-ba82-885a8436277e" class="captionstyled__StyledCaptionWithInfoIcon-sc-q43va2-4 ezcaxB display_flex order-0"><span class="visually-hidden">Show caption: Fuel prices at a petrol station in Berlin on October 2, 2026…</span><svg width="24" height="24" fill="#0000006a" stroke="#ffffff9a" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" viewBox="0 0 24 24" version="1.1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" xml:space="preserve" aria-hidden="true" focusable="false"><circle cx="12" cy="12" r="10"></circle><line x1="12" y1="16" x2="12" y2="12"></line><line x1="12" y1="8" x2="12.01" y2="8"></line></svg></label></div></figure></div><div id="fusion-static-exit:el-12-2F6GSQLHZVMBIKW4SWFER33YXQ-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-12-2F6GSQLHZVMBIKW4SWFER33YXQ-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-13-ZODSP5YSHFBWZGPJG75XSSLE2M-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-13-ZODSP5YSHFBWZGPJG75XSSLE2M-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-13-ZODSP5YSHFBWZGPJG75XSSLE2M"><span data-translator-highlight-target="true">Europe is also facing higher diesel prices, which hit a record of €2.24 per litre, compared to €1.59 before the Iran war began on February 28.</span></p><div id="fusion-static-exit:el-13-ZODSP5YSHFBWZGPJG75XSSLE2M-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-13-ZODSP5YSHFBWZGPJG75XSSLE2M-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-14-IH237UCFCFG2JB6DKUCRFVYRJA-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-14-IH237UCFCFG2JB6DKUCRFVYRJA-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-14-IH237UCFCFG2JB6DKUCRFVYRJA"><span data-translator-highlight-target="true">The Trump administration had been pressuring Europe to release its diesel stocks. Last week he again pressed Ukraine to halt its attacks on Russian diesel facilities. On Thursday, Treasury Secretary Scott Bessent urged the continent to “immediately” tap its reserves.</span></p><div id="fusion-static-exit:el-14-IH237UCFCFG2JB6DKUCRFVYRJA-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-14-IH237UCFCFG2JB6DKUCRFVYRJA-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-15-DMYPZ4DJXFBYFC7KUWUI6EG6C4-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-15-DMYPZ4DJXFBYFC7KUWUI6EG6C4-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-15-DMYPZ4DJXFBYFC7KUWUI6EG6C4"><span data-translator-highlight-target="true">Mr Trump has also threatened a US diesel ban in a bid to ease prices, triggering concerns from the American energy industry. Such a move would be an alarming prospect for the European Union, which heavily relies on fossil fuel imports, as it approaches winter. The IEA said the US supplied roughly half of the EU's diesel imports in August.</span></p><div id="fusion-static-exit:el-15-DMYPZ4DJXFBYFC7KUWUI6EG6C4-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-15-DMYPZ4DJXFBYFC7KUWUI6EG6C4-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-16-NJQHINCXDVF5LDT3DP7N4RKJUY-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-16-NJQHINCXDVF5LDT3DP7N4RKJUY-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-16-NJQHINCXDVF5LDT3DP7N4RKJUY"><span data-translator-highlight-target="true">Analysts at Oxford Economics estimate a full ban could lift European wholesale prices by 40 to 50 per cent, while adding as much as 0.4 percentage points to US core inflation in 2027.</span></p><div id="fusion-static-exit:el-16-NJQHINCXDVF5LDT3DP7N4RKJUY-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-16-NJQHINCXDVF5LDT3DP7N4RKJUY-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-17-NBM23GOK2NARTAZWA277MPH5HI-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-17-NBM23GOK2NARTAZWA277MPH5HI-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-17-NBM23GOK2NARTAZWA277MPH5HI"><span data-translator-highlight-target="true">G7 leaders said they reaffirmed their commitment to refrain from placing export restrictions on energy and energy products between G7 members and also urged producers to refrain from imposing bans.</span></p><div id="fusion-static-exit:el-17-NBM23GOK2NARTAZWA277MPH5HI-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-17-NBM23GOK2NARTAZWA277MPH5HI-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-18-PGOMEUOXKNEFXA72MJ6JPLLZE4-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-18-PGOMEUOXKNEFXA72MJ6JPLLZE4-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-18-PGOMEUOXKNEFXA72MJ6JPLLZE4"><span data-translator-highlight-target="true">Mr Macron said Mr Trump did not threaten to issue an embargo on US diesel, classifying the discussion as a “constructive one”.</span></p><div id="fusion-static-exit:el-18-PGOMEUOXKNEFXA72MJ6JPLLZE4-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-18-PGOMEUOXKNEFXA72MJ6JPLLZE4-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-19-7EVF5HFOMJA57ICOYRY24KPLP4-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-19-7EVF5HFOMJA57ICOYRY24KPLP4-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-19-7EVF5HFOMJA57ICOYRY24KPLP4"><span data-translator-highlight-target="true">“We all committed to releasing strategic reserves in the amounts discussed – prioritising diesel – and we all pledged that there would be no export bans; President Trump was particularly clear on this point. I think this is very positive. We are stepping up co-ordination,” he said.</span></p><div id="fusion-static-exit:el-19-7EVF5HFOMJA57ICOYRY24KPLP4-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-19-7EVF5HFOMJA57ICOYRY24KPLP4-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-20-DTGY754BSBF77H6KYBD6C4C4DY-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-20-DTGY754BSBF77H6KYBD6C4C4DY-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-20-DTGY754BSBF77H6KYBD6C4C4DY"><span data-translator-highlight-target="true">IEA member countries agreed in March to co-ordinate to release a record 400 million barrels of strategic reserves. IEA chief Fatih Birol this week said member countries had released two thirds of those commitments to markets.</span></p><div id="fusion-static-exit:el-20-DTGY754BSBF77H6KYBD6C4C4DY-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-20-DTGY754BSBF77H6KYBD6C4C4DY-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div><div id="fusion-static-enter:el-21-V3JTWI2P2JE6FNQAYRZZXHWGLM-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-21-V3JTWI2P2JE6FNQAYRZZXHWGLM-2026-10-02T16:52:01.372Z-static" data-persistent-entry="true"></div><p class="defaultstyled__StyledText-sc-11u52t4-1 eVvrYS margin-lg-bottom" id="el-21-V3JTWI2P2JE6FNQAYRZZXHWGLM"><span data-translator-highlight-target="true"><i>Sunniva Rose contributed to this report from Paris.</i></span></p><div id="fusion-static-exit:el-21-V3JTWI2P2JE6FNQAYRZZXHWGLM-2026-10-02T16:52:01.372Z-static" style="display:none" data-fusion-component="el-21-V3JTWI2P2JE6FNQAYRZZXHWGLM-2026-10-02T16:52:01.372Z-static" data-persistent-exit="true"></div></article><!--$--><div data-identifier="updated-date" class="defaultstyled__StyledUpdatedDate-sc-11u52t4-5 hJrxlk margin-md-top">Updated: <!-- -->October 02, 2026, 4:52 PM</div><!--/$--></div><div id="fusion-static-enter:f0fbH0trMiYtF5" style="display:none" data-fusion-component="f0fbH0trMiYtF5"></div><div data-identifier="tags-list" class="defaultstyled__StyledTagsContainer-sc-1faxks1-0 hwwRur padding-md-bottom padding-sm-top display_flex margin-sm-top margin-sm-bottom"><a class="defaultstyled__StyledTag-sc-1faxks1-1 lhbqKJ margin-sm-right margin-sm-bottom padding-xxs-top padding-xxs-bottom padding-xs-left padding-xs-right" href="/tags/g7/" font-family="var(--secondary-font-family)" style="box-shadow:var(--box-shadow-small)">G7</a><a class="defaultstyled__StyledTag-sc-1faxks1-1 lhbqKJ margin-sm-right margin-sm-bottom padding-xxs-top padding-xxs-bottom padding-xs-left padding-xs-right" href="/tags/emmanuel-macron/" font-family="var(--secondary-font-family)" style="box-shadow:var(--box-shadow-small)">Emmanuel Macron</a><a class="defaultstyled__StyledTag-sc-1faxks1-1 lhbqKJ margin-sm-right margin-sm-bottom padding-xxs-top padding-xxs-bottom padding-xs-left padding-xs-right" href="/tags/oil/" font-family="var(--secondary-font-family)" style="box-shadow:var(--box-shadow-small)">Oil</a></div><div id="fusion-static-exit:f0fbH0trMiYtF5" style="display:none" data-fusion-component="f0fbH0trMiYtF5"></div><div id="fusion-static-enter:f0ffAPaXKXOe1WV" style="display:none" data-fusion-component="f0ffAPaXKXOe1WV"></div><aside data-identifier="read-more-block" class="indexstyled__StyledReadMoreContainer-sc-jwdal3-0 eZlJzo margin-md-top" type="article/ReadMore" id="" name="Read More - The National"><div data-identifier="heading-element" class="defaultstyled__StyledHeadingWrapper-sc-11xalxo-1 cQCsIZ"><div class="defaultstyled__StyledHeadingElement-sc-11xalxo-2 hnBxVm heading-container display_flex" font-weight="700" type="border"><div data-translator-highlight-target="true" color="var(--global-grey-3)" class="Link__Anchor-sc-1fg1e8z-0 ejhdZG b-readmorelabel">Read next...</div></div></div><div class="indexstyled__StyledContainer-sc-jwdal3-2 eKUmlN margin-lg-top margin-lg-bottom"><div class="defaultstyled__StyledMediaCard-sc-1dedoj7-2 iyBCfb indexstyled__StyledMediaCard-sc-jwdal3-1 gLwMBW display_grid" data-identifier="media-card"><div data-identifier="container-wrapper" class="Container__StyledContainer-sc-14lnmxl-0 fKaOYi container-wrapper order-0 " display="block" style="position:relative;height:max-content"><figure class="order-0 "><a href="/business/energy/2026/09/30/uae-petrol-prices-to-rise-by-about-16-in-october/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs"><picture class="indexstyled__StyledPicture-sc-zcpzxj-0 lpfzrK display_block"><source width="188" height="105.28" media="(min-width: 1024px)" srcSet="https://www.thenationalnews.com/resizer/v2/related-OUYEYVLTPVDS5OZGUKOXRDGR3Y.jpg?auth=6e22e406777a4d618e70ff338fc617f43409be448e2dedb241245e91fba4985a&amp;smart=true&amp;width=188&amp;height=105"/><source width="147" height="82.32" media="(min-width: 768px) and (max-width: 1023px)" srcSet="https://www.thenationalnews.com/resizer/v2/related-OUYEYVLTPVDS5OZGUKOXRDGR3Y.jpg?auth=6e22e406777a4d618e70ff338fc617f43409be448e2dedb241245e91fba4985a&amp;smart=true&amp;width=147&amp;height=82"/><source width="300" height="168" media="(min-width: 350px) and (max-width: 767px)" srcSet="https://www.thenationalnews.com/resizer/v2/related-OUYEYVLTPVDS5OZGUKOXRDGR3Y.jpg?auth=6e22e406777a4d618e70ff338fc617f43409be448e2dedb241245e91fba4985a&amp;smart=true&amp;width=300&amp;height=168"/><img data-chromatic="ignore" alt="UAE petrol prices to rise by about 16% in October" loading="lazy" fetchPriority="low" src="https://www.thenationalnews.com/resizer/v2/related-OUYEYVLTPVDS5OZGUKOXRDGR3Y.jpg?auth=6e22e406777a4d618e70ff338fc617f43409be448e2dedb241245e91fba4985a&amp;smart=true&amp;width=300&amp;height=168" srcSet="https://www.thenationalnews.com/resizer/v2/related-OUYEYVLTPVDS5OZGUKOXRDGR3Y.jpg?auth=6e22e406777a4d618e70ff338fc617f43409be448e2dedb241245e91fba4985a&amp;smart=true&amp;width=300&amp;height=168 300w, https://www.thenationalnews.com/resizer/v2/related-OUYEYVLTPVDS5OZGUKOXRDGR3Y.jpg?auth=6e22e406777a4d618e70ff338fc617f43409be448e2dedb241245e91fba4985a&amp;smart=true&amp;width=147&amp;height=82 147w, https://www.thenationalnews.com/resizer/v2/related-OUYEYVLTPVDS5OZGUKOXRDGR3Y.jpg?auth=6e22e406777a4d618e70ff338fc617f43409be448e2dedb241245e91fba4985a&amp;smart=true&amp;width=188&amp;height=105 188w" width="300" height="168"/></picture></a></figure></div><div class="defaultstyled__StyledCardDetails-sc-1dedoj7-1 hDGano display_grid order-0"><a href="/business/energy/2026/09/30/uae-petrol-prices-to-rise-by-about-16-in-october/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs order-0"><p class="defaultstyled__StyledHeadline-sc-1dedoj7-8 gKBdZu b-allSize16 order-0" font-family="Inter" font-weight="400">UAE petrol prices to rise by about 16% in October</p></a></div></div><div class="defaultstyled__StyledMediaCard-sc-1dedoj7-2 iyBCfb indexstyled__StyledMediaCard-sc-jwdal3-1 gLwMBW display_grid" data-identifier="media-card"><div data-identifier="container-wrapper" class="Container__StyledContainer-sc-14lnmxl-0 fKaOYi container-wrapper order-0 " display="block" style="position:relative;height:max-content"><figure class="order-0 "><a href="/business/energy/2026/09/30/us-oil-bosses-say-iran-war-is-disrupting-long-term-planning/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs"><picture class="indexstyled__StyledPicture-sc-zcpzxj-0 lpfzrK display_block"><source width="188" height="105.28" media="(min-width: 1024px)" srcSet="https://www.thenationalnews.com/resizer/v2/related-QUEVGCAHLISRAGVQLLE2ZG3JRQ.jpg?auth=8a874a004ec4b3c310e25f6eeb8c275b0b3779cd13b4b68292c4b1b472268cf7&amp;smart=true&amp;width=188&amp;height=105"/><source width="147" height="82.32" media="(min-width: 768px) and (max-width: 1023px)" srcSet="https://www.thenationalnews.com/resizer/v2/related-QUEVGCAHLISRAGVQLLE2ZG3JRQ.jpg?auth=8a874a004ec4b3c310e25f6eeb8c275b0b3779cd13b4b68292c4b1b472268cf7&amp;smart=true&amp;width=147&amp;height=82"/><source width="300" height="168" media="(min-width: 350px) and (max-width: 767px)" srcSet="https://www.thenationalnews.com/resizer/v2/related-QUEVGCAHLISRAGVQLLE2ZG3JRQ.jpg?auth=8a874a004ec4b3c310e25f6eeb8c275b0b3779cd13b4b68292c4b1b472268cf7&amp;smart=true&amp;width=300&amp;height=168"/><img data-chromatic="ignore" alt="US oil bosses say Iran war is disrupting long-term planning" loading="lazy" fetchPriority="low" src="https://www.thenationalnews.com/resizer/v2/related-QUEVGCAHLISRAGVQLLE2ZG3JRQ.jpg?auth=8a874a004ec4b3c310e25f6eeb8c275b0b3779cd13b4b68292c4b1b472268cf7&amp;smart=true&amp;width=300&amp;height=168" srcSet="https://www.thenationalnews.com/resizer/v2/related-QUEVGCAHLISRAGVQLLE2ZG3JRQ.jpg?auth=8a874a004ec4b3c310e25f6eeb8c275b0b3779cd13b4b68292c4b1b472268cf7&amp;smart=true&amp;width=300&amp;height=168 300w, https://www.thenationalnews.com/resizer/v2/related-QUEVGCAHLISRAGVQLLE2ZG3JRQ.jpg?auth=8a874a004ec4b3c310e25f6eeb8c275b0b3779cd13b4b68292c4b1b472268cf7&amp;smart=true&amp;width=147&amp;height=82 147w, https://www.thenationalnews.com/resizer/v2/related-QUEVGCAHLISRAGVQLLE2ZG3JRQ.jpg?auth=8a874a004ec4b3c310e25f6eeb8c275b0b3779cd13b4b68292c4b1b472268cf7&amp;smart=true&amp;width=188&amp;height=105 188w" width="300" height="168"/></picture></a></figure></div><div class="defaultstyled__StyledCardDetails-sc-1dedoj7-1 hDGano display_grid order-0"><a href="/business/energy/2026/09/30/us-oil-bosses-say-iran-war-is-disrupting-long-term-planning/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs order-0"><p class="defaultstyled__StyledHeadline-sc-1dedoj7-8 gKBdZu b-allSize16 order-0" font-family="Inter" font-weight="400">US oil bosses say Iran war is disrupting long-term planning</p></a></div></div></div></aside><div id="fusion-static-exit:f0ffAPaXKXOe1WV" style="display:none" data-fusion-component="f0ffAPaXKXOe1WV"></div><div data-fusion-lazy-id="f0fYMZfGHena7Bb"><audio data-identifer="translator-audio" data-translatoraudio="" autoPlay=""><source type="audio/mp3"/></audio></div></div><div data-identifier="column-12-2-2" width="" widths="[object Object]" class="Column__ColumnWrapper-sc-aun2rh-0 hiPgs column-container"><div id="fusion-static-enter:c0fwvozbdtzTez" style="display:none" data-fusion-component="c0fwvozbdtzTez"></div><div data-identifier="flex-chain" class="default__StyledFlexChain-sc-g4qx5v-0 cuRBeI margin-lg-bottom" id="cc0fwvozbdtztez"><div class="default__GridWrapper-sc-g4qx5v-1 dExGIO grid-wrapper"><div><div id="fusion-static-enter:f0fyciuj225wk2-3-0-0" style="display:none" data-fusion-component="f0fyciuj225wk2-3-0-0"></div><div data-identifier="heading-element" class="defaultstyled__StyledHeadingWrapper-sc-11xalxo-1 cQCsIZ margin-md-bottom" type="organisms/Heading" name="Heading - The National"><div class="defaultstyled__StyledHeadingElement-sc-11xalxo-2 iPfmBO heading-container display_flex" color="var(--global-black)" font-family="Inter" font-weight="700" type="text"><p data-translator-highlight-target="true" color="var(--global-black)" class="Link__Anchor-sc-1fg1e8z-0 eNDuYu b-p">Most popular today</p></div></div><div id="fusion-static-exit:f0fyciuj225wk2-3-0-0" style="display:none" data-fusion-component="f0fyciuj225wk2-3-0-0"></div><div id="fusion-static-enter:f0f7DvVFtHhv2qS-3-0-1" style="display:none" data-fusion-component="f0f7DvVFtHhv2qS-3-0-1"></div><div data-identifier="story-feed" id="f0f7DvVFtHhv2qS-3-0-1" class="defaultstyled__StyledStoryFeedWrapper-sc-1ju3ptt-1 fFMnUJ undefined" type="organisms/StoryFeed" name="Most popular - articles storyFeed"><div data-identifier="grid-container" class="Grid__GridWrapper-sc-1uf4rv8-0 bilaVv grid-container display_flex defaultstyled__StyledGrid-sc-1ju3ptt-3 bYNtoD display_grid undefined grid-container--container"><div data-identifier="column-12" width="" widths="[object Object]" class="defaultstyled__StyledColumn-sc-1ju3ptt-0 bipUSo Column__ColumnWrapper-sc-aun2rh-0 gSmlhE display_flex numbered_wrapper column-container"><div class="defaultstyled__StyledNumbered-sc-1ju3ptt-4 fxjUcJ margin-xxs-top b-allSize24" font-family="Inter" font-weight="400">1</div><div class="defaultstyled__StyledMediaCard-sc-1dedoj7-2 ctpxYO defaultstyled__StyledMediaCard-sc-1ju3ptt-2 dgOhNW display_grid" data-identifier="story-feed-item"><div class="defaultstyled__StyledCardDetails-sc-1dedoj7-1 hDGano display_grid order-0"><a href="/news/europe/2026/10/02/its-not-her-fault-children-of-iranian-nobel-prize-winner-narges-mohammadi-on-pain-of-separation/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs order-0"><p class="defaultstyled__StyledHeadline-sc-1dedoj7-8 gKBdZu b-p order-0" font-family="Inter" font-weight="400">&#x27;It&#x27;s not her fault&#x27;: Children of Iranian Nobel Prize winner Narges Mohammadi on pain of separation</p></a></div></div></div><div data-identifier="column-12" width="" widths="[object Object]" class="defaultstyled__StyledColumn-sc-1ju3ptt-0 bipUSo Column__ColumnWrapper-sc-aun2rh-0 gSmlhE display_flex numbered_wrapper column-container"><div class="defaultstyled__StyledNumbered-sc-1ju3ptt-4 fxjUcJ margin-xxs-top b-allSize24" font-family="Inter" font-weight="400">2</div><div class="defaultstyled__StyledMediaCard-sc-1dedoj7-2 ctpxYO defaultstyled__StyledMediaCard-sc-1ju3ptt-2 dgOhNW display_grid" data-identifier="story-feed-item"><div class="defaultstyled__StyledCardDetails-sc-1dedoj7-1 hDGano display_grid order-0"><a href="/news/uae/2026/10/02/dubai-police-seize-23-tonnes-of-drugs-worth-dh115m-and-arrest-14-suspects/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs order-0"><p class="defaultstyled__StyledHeadline-sc-1dedoj7-8 gKBdZu b-p order-0" font-family="Inter" font-weight="400">Dubai Police seize 2.3 tonnes of drugs worth Dh115m and arrest 14 suspects</p></a></div></div></div><div data-identifier="column-12" width="" widths="[object Object]" class="defaultstyled__StyledColumn-sc-1ju3ptt-0 bipUSo Column__ColumnWrapper-sc-aun2rh-0 gSmlhE display_flex numbered_wrapper column-container"><div class="defaultstyled__StyledNumbered-sc-1ju3ptt-4 fxjUcJ margin-xxs-top b-allSize24" font-family="Inter" font-weight="400">3</div><div class="defaultstyled__StyledMediaCard-sc-1dedoj7-2 ctpxYO defaultstyled__StyledMediaCard-sc-1ju3ptt-2 dgOhNW display_grid" data-identifier="story-feed-item"><div class="defaultstyled__StyledCardDetails-sc-1dedoj7-1 hDGano display_grid order-0"><a href="/opinion/cartoon/2026/10/02/france-school-protests/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs order-0"><p class="defaultstyled__StyledHeadline-sc-1dedoj7-8 gKBdZu b-p order-0" font-family="Inter" font-weight="400">Cartoon for October 3, 2026</p></a></div></div></div><div data-identifier="column-12" width="" widths="[object Object]" class="defaultstyled__StyledColumn-sc-1ju3ptt-0 bipUSo Column__ColumnWrapper-sc-aun2rh-0 gSmlhE display_flex numbered_wrapper column-container"><div class="defaultstyled__StyledNumbered-sc-1ju3ptt-4 fxjUcJ margin-xxs-top b-allSize24" font-family="Inter" font-weight="400">4</div><div class="defaultstyled__StyledMediaCard-sc-1dedoj7-2 ctpxYO defaultstyled__StyledMediaCard-sc-1ju3ptt-2 dgOhNW display_grid" data-identifier="story-feed-item"><div class="defaultstyled__StyledCardDetails-sc-1dedoj7-1 hDGano display_grid order-0"><a href="/news/uae/2026/10/03/co-pilot-on-flydubai-flight-attempted-to-carry-out-terrorist-act-uaes-attorney-general-says/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs order-0"><p class="defaultstyled__StyledHeadline-sc-1dedoj7-8 gKBdZu b-p order-0" font-family="Inter" font-weight="400">Flydubai co-pilot attacked pilot with axe in &#x27;attempted terrorist act&#x27;, says attorney general</p></a></div></div></div><div data-identifier="column-12" width="" widths="[object Object]" class="defaultstyled__StyledColumn-sc-1ju3ptt-0 bipUSo Column__ColumnWrapper-sc-aun2rh-0 gSmlhE display_flex numbered_wrapper column-container"><div class="defaultstyled__StyledNumbered-sc-1ju3ptt-4 fxjUcJ margin-xxs-top b-allSize24" font-family="Inter" font-weight="400">5</div><div class="defaultstyled__StyledMediaCard-sc-1dedoj7-2 ctpxYO defaultstyled__StyledMediaCard-sc-1ju3ptt-2 dgOhNW display_grid" data-identifier="story-feed-item"><div class="defaultstyled__StyledCardDetails-sc-1dedoj7-1 hDGano display_grid order-0"><a href="/news/mena/2026/10/03/iran-gearing-up-for-major-round-of-fighting-with-us-source-says/" class="Link__Anchor-sc-1fg1e8z-0 kRrXAs order-0"><p class="defaultstyled__StyledHeadline-sc-1dedoj7-8 gKBdZu b-p order-0" font-family="Inter" font-weight="400">Iran gearing up for &#x27;major round of fighting&#x27; with US, says source</p></a></div></div></div></div></div><div id="fusion-static-exit:f0f7DvVFtHhv2qS-3-0-1" style="display:none" data-fusion-component="f0f7DvVFtHhv2qS-3-0-1"></div></div></div><style> …