The G-7 group of the world’s most advanced economies support in principle the idea to release strategic petroleum reserves to calm the market as supply from the Middle East is choked at the Strait of Hormuz. “Working alongside the IEA, we are vigilantly monitoring energy market trends and are coordinating within the G-7 and with our international partners, IEA member countries, and beyond,” G-7 energy ministers said in a statement emailed to Bloomberg on Wednesday. The ministers noted they support in principle the…
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