Group of Seven leaders agreed Friday to release 100 million barrels of diesel and other strategic reserves through the International Energy Agency over four months, including a “front-loaded substantial diesel release within the first 20 days,” according to a joint statement released by French President Emmanuel Macron’s office and reported by The National and Al Jazeera. Oil softened on the news: Brent traded near $100.80 and WTI near $90.40 after the announcement, The National said.

President Donald Trump posted that Europe had agreed to release a “massive amount” of stockpiled diesel just before the G7 statement. U.S. diesel hit about $6.50 a gallon last week — nearly $3 higher than a year earlier — and European retail diesel recently reached a record €2.24 per liter, The National reported. AAA put the U.S. national average near $6.37 on Friday, Al Jazeera noted. Trump had pressed Europe to tap reserves and floated a U.S. diesel export ban; Macron said leaders pledged no export bans among G7 members and called the discussion constructive.

IEA members had already agreed in March to coordinate up to 400 million barrels of strategic releases; IEA chief Fatih Birol said roughly two-thirds of those commitments had reached markets. For truckers, farmers, and grocery shoppers, the stake is whether wholesale diesel eases before winter freight peaks. Analysts still warn a U.S. export ban would spike European prices. Watch IEA coordination meetings, front-month diesel futures, and whether Hormuz flows keep rising toward prewar volumes Macron cited.

What we know:
G7/IEA coordinated a 100-million-barrel oil/diesel release over four months with front-loaded diesel; Trump hailed Europe’s diesel move; prices eased Friday.
What we don’t:
The exact diesel-versus-crude split by country and how much retail pump relief U.S. drivers will see within weeks.