G8 committed to keeping oil markets supplied – US

The Group of Eight leaders are committed to keeping global oil markets supplied as sanctions on Iran's crude supply take force, but did not discuss a specific trigger that would prompt action, a US official said on Saturday.

Michael Froman, a senior White House aide, told reporters that although oil prices have been declining in recent weeks, they remain high. He said a joint energy statement released by the G8 reflected unity on the issue and a readiness to ask the International Energy Agency to take steps to ensure the oil market remains healthy if there are further strains. (Reuters)