Brent crude futures recovered their earlier decline Friday to settle down just six cents, or 0.06%, after trading below $100 as reports of a potential emergency reserve release pushed prices lower. European gasoil futures fell more than 4% as G7 nations and their partners agreed to draw down crude and diesel stocks.

The agreement calls for a release of 100 million barrels through the International Energy Agency over four months, beginning immediately, with a substantial diesel release within the first 20 days. The schedule implements commitments made in March rather than constituting an entirely new pledge. G7 members reaffirmed that they would avoid energy export restrictions among themselves, and President Donald Trump ruled out a US diesel export ban.

Leaders also agreed to coordinate refinery maintenance to avoid simultaneous shutdowns and temporarily increase refinery utilization where feasible. They will discuss possible additional diesel releases through the IEA in the coming days.