French President Macron: Government may decide further measures to cushion oil prices

French President Emannuel Macron said that they will engage with several countries to limit measures to restrict exports, adding that there's obviously a need for a definition of military and political objectives in the war in Iran at a G7 leaders' video conference on Wednesday.

Key takeaways:

We will engage with several countries to limit measures to restrict exports.

G7 has agreed situation does not justify lifting sanctions on Russia.

It is obvious there is a need for definition of military and political objectives on war in Iran.

Consensus in G7 to keep position on Russia and maintain effort in favour of Ukraine.

Release of strategic reserves represents 14.5 mln barrels in France.

Government may decide further measures to cushion oil price increase for French consumers."