Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to be with you on this Monday, March 9th. I'm Julie Morgan.

G7 finance ministers will reportedly discuss a possible joint release of petroleum from reserves

coordinated by the International Energy Agency.

The Financial Times reported that the leaders will have an emergency meeting today, aimed at

tackling the surge in oil prices following the conflict in the Gulf. According to people familiar

with the situation, including a senior G7 official, the ministers and the

IEA executive director will hold a call at 8.30 a.m. New York time to discuss the impact of the

Iran war. Three G7 countries, including the U.S., have so far expressed support for the idea,

according to the people familiar with the matter.

The 32 members of the IEA hold strategic reserves as part of a collective emergency system

designed for an oil price crisis. According to the FT report, one person indicated that certain

U.S. officials see a 300 million to 400 million barrel release,

or 25 to 30 percent of the 1.2 billion barrel reserve as reasonable. The price at the pump has

risen greatly over the past week. According to AAA, the average price for a gallon of gas is

347. It was less than $3 before the war began.

Meanwhile, South Korea's president has invoked the first fuel price ceiling in 30 years to combat

war-driven energy shock. We're also following reports that the Saudis are offering oil on the

spot market as the war has disrupted,

contracted flows. The links to those two articles are in the show notes section.

Live Nation is reportedly close to settling a federal antitrust lawsuit, accusing the company

of illegally monopolizing the live music industry.

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