G7 Weighs 400 Million Barrel Oil Reserve Release as Crude Reverses and Crypto Market Stabilizes

Oil prices, which had surged to nearly $120 per barrel amid the armed conflict involving Iran, the US, and Israel, dropped sharply after reports that G7 members may discuss a coordinated release of up to 400 million barrels from reserves. US crude slid toward $101, while Bitcoin rebounded from an intraday low near $65,600 to around $67,400 as the broader crypto market's capitalization rose to $2.38 trillion, up 0.2% over the past 24 hours.