British media: The G7 will hold an emergency meeting today to discuss coordinating the release of strategic petroleum reserves to stabilize oil prices.

CoinFeed reported on March 9th, citing the Financial Times, that G7 finance ministers will hold an emergency meeting on Monday to discuss the possibility of jointly releasing emergency oil reserves under the coordination of the International Energy Agency (IEA). This meeting aims to address the surge in oil prices following the conflict in the Gulf region. Sources familiar with the matter revealed that the G7 finance ministers and IEA Executive Director Fatih Birol will hold a teleconference at 8:30 AM New York time (8:30 PM Beijing time) to discuss the impact of the war with Iran. Sources also indicated that three G7 countries, including the United States, have so far expressed support for this idea. The IEA's 32 member countries hold strategic reserves as part of a collective emergency system established to address the oil price crisis.