Energy
The G7 will release 100 million barrels of diesel and oil.
The stockpile release starts immediately and runs four months, with a large diesel draw in the first 20 days. Prices have soared on the war in Iran.
The Rocket News · Business Desk · ParisOctober 2, 2026 · 3 min read

PARIS — The Group of 7 agreed on Friday to release 100 million barrels of diesel and other reserves through the International Energy Agency, a joint statement from the office of President Emmanuel Macron said. The draw starts immediately and runs over four months, with a substantial diesel release in the first 20 days by G7 members and partners.
The countries are the United States, France, Italy, Germany, Japan, Britain, and Canada. The New York Times said the release is meant to ease record prices driven mostly by the war in Iran, after Washington pressed Europe to open stockpiles or face an American ban on diesel exports. The leaders called the step a coordinated measure to stabilize supplies.
The jobs report, out the same morning, showed hiring of only 29,000. The two notes sit together on the economy page. The bridges in Kyiv are on the war page.
Wire and further reading: reuters.com
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The Times's Wednesday front said oil exports in the Middle East are rising even while prices stay high. Supply is still short of demand.

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The offer is an oil deal.
Iran wants the blockade lifted and the sanctions on its oil sales waived. The same morning, the Times said Trump is considering a ban on U.S. diesel exports.
