United States President Barack Obama and British Prime Minister David Cameron have discussed releasing strategic oil reserves amid rising global oil prices.

The White House said on Thursday that the two leaders discussed the matter during summit talks in Washington on Wednesday but did not reach an agreement over the issue, adding that the U.S. and Britain are closely watching the flow of oil prices.

Meanwhile, Reuters reported that Obama raised the issue of the emergency oil reserves during Wednesday's talks. The report said that detailed plans over a systematic release of crude from the strategic petroleum reserves are expected to be revealed early this summer.

In a separate move, the U.S. is also reportedly seeking ways to release emergency petroleum reserves through the International Energy Agency.

Foreign media said that the release of such strategic reserves would be helpful in promoting economic stability and in stabilizing surging oil prices, which resulted from a glitch in supply and demand due to Iran’s nuclear issue.