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G7 Moves to Release 100 Million Barrels of Oil and Diesel Through IEA as Energy Markets Face Severe Supply Pressure

The Group of Seven has agreed to coordinate the release of 100 million barrels of oil and refined petroleum products through the International Energy Agency in an attempt to ease severe pressure on global energy markets, with a substantial quantity of diesel to be released within the first 20 days. The decision comes as governments confront exceptionally tight fuel supplies, elevated diesel price…

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Oil Is Above $100 Again. What Does It Mean for Ordinary People?

Oil prices are back above $100 a barrel, and for many people that number may sound like something that belongs only to financial markets. It does not. Oil is connected to much more of our daily lives than we usually realise. It affects the fuel we put into our vehicles, the cost of transporting goods, airline tickets, manufacturing expenses, electricity in some markets, plastics, chemicals and ma…

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