G7 Nations Not Yet Ready To Release Oil Stockpiles

By Alton Wallace | The Center Square(Worthy News) – G7 finance ministers said Monday they will take “necessary measures” to stabilize energy supplies but added there is no plan yet to release strategic oil stockpiles after prices for the vital commodity surged over the weekend to a 45-month high.In a teleconference with ministers early Monday, International Energy Administration executive director Fatih Birol said conditions in global oil markets have “deteriorated” as the U.S.-Israeli wa