Macron to host G7 leaders call on Iran crisis, energy prices
France's President Emmanuel Macron speaks during a national defence council meeting at the Elysee Palace, in Paris, France on March 10.
PHOTO: Reuters
PARIS — French President Emmanuel Macron will convene a call with leaders of the Group of Seven (G7) on Wednesday (March 11) to discuss the Iran crisis and rising energy prices, the French president's office said.
The talks come as G7 governments weigh how to respond to a sharp rise in oil prices triggered by the US-Israeli war on Iran.
G7 energy ministers stopped short of agreeing on a release of strategic oil reserves on Tuesday and instead asked the International Energy Agency to assess the situation before acting.
Benchmark oil prices surged to almost four-year highs on Monday but prices plummeted 11 per cent on Tuesday after US President Donald Trump predicted the war in the Middle East could end soon.
US officials are also weighing steps to keep oil flowing through the Strait of Hormuz, including providing naval escorts for commercial vessels and backstopping war risk insurance for tankers, as Washington seeks to reassure shippers and prevent further disruption to global energy supplies.
The G7 comprises the US, Canada, Japan, Italy, Britain, Germany and France.
France is the current G7 chair.
[[nid:731106]]