Japan’s Finance Minister Satsuki Katayama says that G7 ministers have held an online meeting to discuss the impact of the war on the markets, which saw oil markets soar to more than $119 a barrel, Al Jazeera reports.
Speaking during a briefing, Katayama said the International Energy Agency (IEA) called for a coordinated release of emergency oil reserves during the meeting.
“IEA called for each country to do coordinated release of oil reserves,” Katayama said, as the ministers gathered online to discuss the impact of war in Iran on the markets.