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US has to support it when they are the culprit of it all. Meeting time is 8:30AM in New York today which we expect the news to be available by tonight or tomorrow
400million is for 4 days use. That is 30% of capacity of the G7 reserves. But this time France called for IEA which is a global nation. So unsure how much mil barrels of crude oils can be offered for emergency at the end.
Investing.com -- The Group of Seven nations is not prepared to organize a coordinated release of emergency oil inventories in response to the Iran war, according to France, which currently holds the G7 presidency.
Iran's Islamic Revolutionary Guard Corps has announced that European and Arab nations will be granted unhindered access to the Strait of Hormuz solely on the condition that they expel diplomats representing the United States and Israel.
What Trump or G7 leaders said is less important coz Brent crude will go up again after 4-5 days.. But retail investors just like to buy n sell in 1-2 days time.