G7 leaders urge a decision between Israel and Iran Amid the escalation rounds of strikes, saying it “will remain vigilant” and respond if the conflict affects the international energy markets.
“We will remain vigilant to the effects of international energy markets and stand ready to coordinate, including with similar thinking partners, to protect market stability,” this is what G7 leaders read.
In the statement, the leaders said they assert that Israel has the right to defend itself and repeated their support for the country, while emphasizing the importance of protecting civilians.
They added that they hope that the decision will lead to “a broader enrollment of hostilities in the Middle East, including the ceasefire in Gaza.”
“Iran is the main source of instability and regional terrorism,” says the joint statement. “We were constantly clear that Iran could not have a nuclear weapon.”
The joint statement came from the leaders of the Group of Seven on Monday evening after meetings in Kanancisis, Alta.
Oil prices were higher than Tuesday as the conflict continued, although the main oil, gas and flow infrastructure was rescued from a significant impact.
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Although there was no noticeable interruption in oil flows, Iran has suspended the production of gas in part in a prominent South Field that Qatar is sharing it after an Israeli strike on Saturday.
Saksu Hanson Bank analyst told Reuters that the market was greatly concerned about the turmoil through the Strait of Hermoz, although the risks were low.
Hansen added that there is no appetite for the closure of the waterway, given that Iran will lose revenues and that the United States wants to drop oil and low inflation.
Despite the possibility of disruption, there are signs that oil supply is still clear amid low demand expectations.
In its monthly oil report on Tuesday, the International Energy Agency reviewed the estimation of the demand for global oil by 20,000 barrels per day (BPD) from last month’s expectations and increased the estimate of the offer by 200,000 barrels per day to 1.8 million barrels per day.
US President Donald Trump He talked about the conflict before a meeting with the Prime Minister Mark CarneyHe repeated his comments that Iran should have put a nuclear deal with the United States early and said that Tehran should “speak immediately before it is too late.”
Then the seven group left late on Monday, when the White House told the correspondents that he was leaving because of the escalating conflict in the Middle East, but he did not explain more.
However, French President Emmanuel Macron told reporters on Monday evening that discussions are underway to a ceasefire between Israel and Iran, although Trump denied that he was working in such a step.
“I mistakenly left the Group 7 summit in Canada to return to the capital to” stop fire “between Israel and Iran.” Wrong, “Macron said.
Trump went on to say he was heading to Washington for “much larger” that had nothing to do with the ceasefire.
The president also said, early on Tuesday morning, in fact, he did not communicate with Iran for “peace talks” in any way, shape or form.
– With Reuters files and Associated Press
& Copy 2025 Global News, a Division of Corus Entertainment Inc.
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