G7 leaders agree to coordinate restoring freedom of navigation in Strait of Hormuz and release oil reserves

G7 leaders agreed to coordinate efforts to restore freedom of navigation in the Strait of Hormuz and to release oil reserves, following a virtual meeting on oil-market volatility. The agreement, reported by two Gulf outlets, also covers coordinating refinery maintenance to avoid simultaneous shutdowns; no official G7 text has been published.

Detected & updated continuously · Source: Nebula