G7 finance ministers and central bank governors are set to convene for a key meeting as diplomatic tensions escalate over the Iran conflict.

The Group of Seven nations have decided against jointly releasing hundreds of millions of barrels of crude oil reserves to stanch skyrocketing prices, which have hit over $100 a barrel in what has been described as the most severe energy crisis since the 1970s.

Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.

G7 discusses the possibility of coordinated release of oil reserves in the wake of soaring oil prices due to the joint US and Israel strike on Iran

Releasing strategic oil reserves in a bid to stabilise energy markets rocked by the Middle East crisis will be one option discussed at Monday's G7 finance minis

The countries of the Group of Seven (G7) leading economies have expressed their general openness to releasing emergency oil reserves in light of the economic impacts of the Iran war. "In principle,

The G7 countries meeting on Monday to discuss measures to curtail the oil supply shock from the ongoing war in Iran have not agreed to release emergency crude volumes held in International Energy Agency (IEA) stockpiles.

The leaders of the Group of Seven (G7) unveiled a new action plan for critical minerals on Tuesday, following their latest meeting in Kananaskis, Alberta. The initiative, designed to secure global supplies of essential materials for clean energy, defense ...

Add Yahoo as a preferred source to see more of our stories on Google. President Donald Trump lacks confidence among the G7 countries and their leaders, according to a new Pew Research Center poll. “The countries outside of the U.S. who are part of the G7 ...

Energy ministers of the G7 said on Wednesday they stood ready to take “all necessary measures” in coordination with the International Energy Agency (IEA) to tackle the rise in crude oil prices due to the Middle East war.