Politics

G7 holds off on tapping oil reserves amid Middle East war

 09.03.2026, 20:18
G7 countries have decided not to release their emergency oil reserves for now, despite a spike in crude oil prices. Photo: Peter Titmuss/UCG/Universal Images Group via Getty Images
G7 countries have decided not to release their emergency oil reserves for now, despite a spike in crude oil prices. Photo: Peter Titmuss/UCG/Universal Images Group via Getty Images

Oil prices surged to more than $119 a barrel on Monday.