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Oil pulls back from 25% spike as G7 discusses emergency reserve release

March 9, 2026No Comments1 Min Read

Crude oil futures on Hyperliquid dropped from $114 to $102 after reports that G7 finance ministers would discuss a joint release of strategic oil reserves to cool the price surge driven by the Iran conflict.

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See also Bitcoin holds $71,000 despite Trump warning of strikes on Iran's oil-rich Kharg Island

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Oil pulls back from 25% spike as G7 discusses emergency reserve release

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