As the benchmark oil price crossed $100 a barrel for the first time in four years, Foreign Ministers of G7 countries will hold an emergency meeting on Monday to discuss the oil price surge.
An emergency virtual meeting of G7 finance ministers is scheduled for 8:30 AM ET to discuss the economic impact of the war. The meeting, organized by the French presidency of the leading industrialized nations' group, will reportedly focus on a potential joint release of petroleum from reserves to stabilize global energy markets.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.