The G7 nations on Friday announced that they agreed to release 100 million barrels of oil from reserves over four months, including a “substantial” release of diesel in the first 20 days, as fuel prices surge amid the war with Iran, while Trump had earlier threatened diesel exporyt ban.The International Energy Agency will coordinate the G7-led release, with member countries and partners expected to begin making oil available immediately. The agreement is aimed at easing pressure on global fuel markets after diesel prices surged to record highs in the US.“We will implement our commitments with a coordinated release through the IEA of 100 million barrels (MB) to begin immediately over 4 months, including a frontloaded substantial diesel release within the first 20 days by G7 members and partners,” the G7 said in a statement.Trump also mentioned the diesel release on social media. “Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately,” Trump said.Trump had spoken with French President Emmanuel Macron, who holds the rotating G7 presidency, about rising fuel prices and the availability of petroleum products, according to the French Embassy in the US. Macron later chaired the videoconference of G7 leaders.The announcement came as the Trump administration has been pushing European countries to make more diesel supplies available while also considering measures to keep more fuel within the US. Treasury Secretary Scott Bessent had urged European partners to release additional supplies, particularly as US farmers, truckers and businesses face higher fuel costs.Earlir, Trump had said his administration is considering restricting US diesel exports “very seriously”. The US exports about 1.2 million to 1.5 million barrels of diesel a day, meaning any significant reduction in shipments could tighten supplies in international markets.The US national average for diesel stood at $6.37 a gallon on Friday, according to AAA, after hitting a record $6.52 on September 22.The pressure on diesel markets has intensified amid disruptions linked to the war with Iran and reduced flows through the Strait of Hormuz. The International Energy Agency said diesel and gasoil exports from the Gulf and Russia were down by 1.6 million barrels per day in August compared with February.Diesel is particularly sensitive to supply disruptions because it is widely used by trucks, agricultural machinery, construction equipment, ships and other parts of the economy. Demand is also difficult to reduce quickly when prices rise.