**Recent US pressure amid the Iran conflict and related supply disruptions has prompted the G7 to coordinate a 100-million-barrel release of diesel and crude from emergency reserves, beginning immediately in early October 2026 with a substantial diesel component front-loaded within the first 20 days.** This follows earlier IEA commitments and aims to ease tight global diesel markets strained by refinery issues, export curbs from Russia and China, and elevated demand. EU emergency diesel and gasoil stocks stood near 39 million metric tons in recent Eurostat readings, with Germany and France holding roughly 35% combined. The drawdown, equivalent to roughly 17% of EU strategic reserves in the initial proposal, directly reduces inventories ahead of the October 31 measurement. Market-implied odds reflect trader assessment of whether reserves hold above key thresholds after these releases, with upcoming Eurostat data and any additional policy responses as key near-term catalysts.