The G7 countries are planning to release strategic oil reserves into the market to stabilize prices. This decision comes amid escalating tensions in the Middle East that drove crude oil prices to $119 per barrel on March 9, 2026.

“We will monitor events closely and are prepared to take all necessary measures, including tapping strategic oil reserves to stabilize the market,” Roland Lescure, France's finance minister, stated. This measure aims to curb volatility following a sharp 25% increase in oil prices. However, according to analysts at the Financial Times, releasing hundreds of millions of barrels will not produce a long-term effect without a cessation of hostilities.

Morgan Stanley representative Martin Ratz described the situation as "the largest supply shock" in the industry's history. The current crisis surpasses the scale of disruptions seen during the Suez crisis of the 1950s. Utilizing reserves at this moment confirms the heightened stress in the global energy market.

As Paul Horsnell, a researcher at the Oxford Institute for Energy Studies, noted, "It is very, very difficult to replace flows with stocks." Following statements from US President Donald Trump, Brent oil prices stabilized around $100. Investors interpreted his remarks as a sign of potential de-escalation in the Middle East.