Von der Leyen welcomes G7 releasing diesel and oil stocks

… <p>European Commission President Ursula von der Leyen has welcomed a decision by the leaders of the G7 group of nations to release 100 million barrels of diesel and crude oil from strategic reserves in the coming months in order to help lower prices.</p> <p>The group said in a statement that it will undertake a co-ordinated release of 100 million barrels of diesel and other reserves through the International Energy Agency (IEA) to try and stabilise world energy markets.</p> <p>"We welcome the decision of G7 countries not to impose any export bans on allies and the continued solidarity between partners. We support an IEA-coordinated release of fuel stocks," Ms von der Leyen wrote on X.</p> <p>US oil prices dropped sharply - as much as 5% at one point - while international benchmark Brent crude briefly fell back below $100 per barrel.</p> <p>The Iran war sparked the biggest emergency stock release ever of 400 million barrels in March, coordinated by the International Energy Agency.</p> …