G-7 Energy Ministers to Meet in Effort to Steady Oil Market (1)

Group of Seven energy ministers will meet in Paris on Tuesday as they continue to debate a possible release of oil reserves to stabilize markets, according to French Finance Minister Roland Lescure.

The group, currently presided over by France, said on Monday it was ready to take any steps needed to support global energy supply after oil prices surged when the Iran war curtailed output and effectively closed the critical Strait of Hormuz.

The G-7 stopped short of calling for a release of stockpiles, however, and prices have since declined sharply with US President Donald Trump hinting at an ...