G7 Agrees to Release Oil Reserves After U.S. Push

G7 countries and the International Energy Agency have agreed to release 400 million barrels of oil from strategic reserves after pressure from the United States. The unprecedented drawdown aims to ease volatility caused by disruptions to Middle Eastern supplies and reduced tanker traffic through the Strait of Hormuz. The United States is expected to provide the largest contribution, with 172 million barrels. Officials say the coordinated action will support global energy markets, though concerns remain about implementation speed and future supply risks.