French President Emmanuel Macron will chair a G7 leaders' videoconference Friday on the risk of global energy shortfalls, the Elysee announced, as the United States urges Europe to tap into its emergency diesel stockpiles.

With fuel prices surging amid the war in the Middle East, the call hosted by France as current G7 president will begin at 2:30 pm (1230 GMT), a French presidential official said. The situation has sparked tensions, with Washington even threatening to ban fuel exports to the European Union if European nations do not release their reserves.