The G7 has agreed to release 100 million barrels of oil and diesel in a bid to ease supply pressures that have caused prices to skyrocket. The group of advanced economies, including the US, said the move would include a "substantial release" of diesel in the coming days. President Donald Trump had threatened to ban diesel exports in a move which would have eased pressure on prices for US consumers ahead of November's midterm elections, but pushed up prices elsewhere. In a joint statement, the G7 said member countries had now agreed to "refrain from export restrictions on energy and energy products" on one another. The G7 includes the US, UK, Canada, Japan, Germany, Italy and France, with the EU also represented at its meetings.
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