Finance ministers of the Group of Seven, or G7, convened to address the energy crisis stemming from the ongoing unrest in the Middle East. 

Among the key options placed on the table was the release of strategic oil reserves to stabilize global markets. 

The group said it would examine developments in the Gulf from an economic perspective.

While no agreement has been reached, G7 countries assured that there is currently no indication that tapping into their emergency oil stocks is necessary amid the crisis.