The United Kingdom has signalled it would support the coordinated release of emergency oil reserves if surging energy prices triggered by conflict in the Middle East threaten global economic stability.

Speaking after emergency discussions among leading economies, the UK’s finance minister said Britain stands ready to back a joint international effort to release strategic oil stocks if market conditions deteriorate further.

The measure would likely take place through the International Energy Agency, which coordinates emergency supply actions among major energy-consuming countries.

Oil prices have climbed sharply in recent days as military confrontation in the Middle East disrupted key shipping routes and heightened fears about potential supply shortages.

Brent crude briefly surged above one hundred dollars per barrel, the first time prices have crossed that level in several years, before easing slightly as governments signalled possible market interventions.

During a virtual meeting of finance ministers from the Group of Seven leading economies, officials discussed the economic risks posed by the conflict and the sharp rise in energy costs.

Ministers agreed to continue monitoring the situation closely while preparing coordinated responses if energy markets become more unstable.

Britain’s finance minister told lawmakers that the government would support the release of collective oil reserves if necessary to calm markets and prevent further economic disruption.

Such reserves are held by International Energy Agency member states to respond to severe supply shocks.

Strategic stock releases are considered one of the most powerful tools available to governments during energy crises.

Previous coordinated releases have been used to offset major supply disruptions, including during periods of geopolitical conflict and global energy shortages.

Energy markets remain volatile as the conflict continues to affect production facilities and maritime transport routes across the region.

Analysts warn that any sustained disruption to shipments through the Strait of Hormuz, a critical passage for global oil supplies, could push prices even higher.

Rising oil costs are already raising concerns about inflation and household energy bills in several advanced economies.

Higher fuel and transport costs can feed through rapidly into consumer prices, complicating efforts by central banks to keep inflation under control.

For the United Kingdom, policymakers say maintaining stability in global energy markets is essential for protecting economic recovery and limiting the impact of geopolitical shocks on households and businesses.

While no coordinated release has yet been formally authorised, officials across the Group of Seven have indicated that the option remains under active consideration as governments respond to rapidly shifting conditions in global energy markets.