G7 taps emergency fuel reserves to ease diesel squeeze

G7 countries and partners will begin releasing 100 million barrels of diesel and crude from emergency reserves, coordinated by the International Energy Agency, over the next four months. The first 20 days will focus heavily on diesel—the fuel that moves freight, powers farm equipment and supports much of industry—because the immediate shortage is in refined fuel, not simply in raw oil. Emergency stocks do not create new production; they bring stored supplies to market faster, buying time and aiming to blunt fuel-price shocks for households and businesses. The deal also commits G7 members not to restrict energy exports to one another, easing a risk that the response to tight supplies could itself make shortages worse; it remains unclear how much of the 100 million barrels is newly committed rather than part of an earlier reserve-release plan.