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Euronews
Euronews
Doloresz Katanich

Oil steadies as IEA and G7 move to release record reserves

IEA Oil International Energy Agency Donald Trump United States Iran Russia Ukraine

Oil prices remain well below the peak of almost $120 reached earlier this week, hovering around $90 at the time of writing, ahead of the G7 meeting on Wednesday to discuss the release of the strategic reserves.

Sentiment has seemingly improved following the proposal of the International Energy Agency (IEA) to release a record amount of oil reserves to help offset the global supply shock caused by the Iran war.

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