The International Energy Agency (IEA) and EU member states discussed the release of strategic oil and diesel reserves on Wednesday. EU member states generally believe that the G7's announcement last week to release up to 100 million barrels of reserves largely fulfills the commitment made in March to release approximately 75 million barrels, rather than adding an additional 100 million barrels to existing inventory. JPMorgan Chase analysts hold a similar view. IEA member states support accelerating the implementation of the March plan and prioritizing the release of diesel reserves. Recent diesel prices have risen sharply due to the war in Iran and attacks on Russian refineries.