G7 to discuss joint release of emergency oil reserves

G7 finance ministers will discuss Monday the possible release of emergency oil reserves, a French government source said, in response to rising oil prices as a result of the Middle East conflict.

The talks were first reported by the Financial Times, which said the International Energy Agency would join discussions, Reuters writes.

Three G7 countries, including the US, have so far expressed support for the idea, FT said, citing sources.