French Finance Minister Lescure has requested that the IEA work on potential scenarios for an oil stockpile release. Need to be prepared to act at any point.

• All nations (seemingly referencing the G7) are willing to take stabilisation measures, including the US.
• G7 wants to be prepared to use stockpiles if required.
• Domestic diesel prices have already increased notably.
• The next step is the IEA governing board beginning at 15:00 CET.

The request from the French Finance Minister for the IEA to prepare for potential oil stockpile releases signals a proactive approach to stabilizing oil prices amid rising domestic diesel costs. This development is critical given the collective willingness of G7 nations to intervene in the market, which may suggest heightened volatility in oil prices if stockpiles are utilized. Traders should monitor any outcomes from the IEA meeting for immediate market implications.