Oil prices experienced historic volatility, surging to $115 a barrel before a potential release of emergency stockpiles and comments from US President Donald Trump offered some relief, though prices remain elevated and supply chains are in disarray.

• A coordinated release of 300 million barrels of emergency oil stockpiles was considered by the G7 finance ministers.
• US President Donald Trump's comments suggesting a pivot away from a long-run war appeared to significantly impact oil prices.
• Despite market calm, significant havoc remains in supply chains and damage to energy infrastructure, with key consumers like China, India, and South Korea being crucial for Gulf oil and gas supply.