The Globe and Mail reports in its Tuesday edition that global action to release strategic oil reserves could happen as soon as Tuesday, when G7 energy ministers meet to discuss boosting supplies and stabilizing energy markets. The Globe's Emma Graney and Jeffrey Jones write that President Donald Trump said on Monday the conflict would end "very soon" and improve long-term oil security. However, he also warned of more aggressive military action if Iran continued to disrupt oil tanker traffic in the Strait of Hormuz. Finance ministers from the G7 held an emergency meeting Monday to discuss potential market intervention due to rising inflation from increasing oil prices. The finance ministers said in a joint communique that they are set to support global energy supply, including a stockpile release. U.S. officials believe a joint release of 300 million to 400 million barrels would be appropriate, the Financial Times reported, quoting unnamed sources. Such volumes could be the largest ever, possibly topping the 300 million barrels that the United States and International Energy Agency members released in 2022 after Russia's invasion of Ukraine. The price of Brent crude reached almost $120 (U.S.) a barrel Monday.