Oil Retreats From $118 High as G7 Weighs Biggest Reserve Release in History

G7 finance ministers convened an emergency call with International Energy Agency Executive Director Fatih Birol on March 9 to discuss a possible coordinated release of strategic petroleum reserves, after crude oil briefly surged to nearly $120 a barrel — its highest level since 2022 — as the Iran war throttled Middle East energy exports. The […] The post Oil Retreats From $118 High as G7 Weighs Biggest Reserve Release in History appeared first on the deep dive.