In the last few months of 2023, the US ramped up enforcement of the price cap and imposed multiple rounds of sanctions on entities and ships that carried Russian crude oil above the price cap.

Brent fell 9 cents, or 0.1%, to $78.47 a barrel, WTI inched up 11 cents to $73.52 a barrel.

The global oil demand growth forecast for 2024 remains unchanged at 2.2 mb/d, with the OECD growing by around 0.3 mb/d and the non-OECD by about 2.0 mb/d. The global oil demand growth in 2025 is expected to see a robust growth of 1.8 mb/d, y-o-y. The OECD is expected to grow by 0.1 mb/d, y-o-y, while demand in the non-OECD is forecast to increase by 1.7 mb/d.

The joint plans of Rosatom and the region include projects for the development of energy infrastructure and the construction of a shift village, landing strip, roads and sea pier, as well as the construction of the world's first low-power nuclear power plant with a Shelf-M reactor of up to 10 MWe.

Brent gained 28 cents to $78.16 a barrel , WTI rose 34 cents at $72.90.

Russia has delivered the first drop of liquefied natural gas (LNG) from its heavily sanctioned flagship project, Arctic LNG-2.

For the ITER project, which is under construction in Cadarache in southern France, Russia's responsibilities include manufacturing 179 of the most energy intensive (up to 5 MW per square metre) panels of the first wall, which is 40% of the total area of ​​the reactor wall.

Brent rose 21 cents, or 0.27%, to $77.01 a barrel. WTI gained 20 cents, or 0.28%, to reach $71.57 a barrel.

“Nuclear energy currently provides almost half of the nation’s carbon-free power, and it will continue to play a significant part in transitioning to a clean energy future,” said U.S. Secretary of Energy Jennifer M. Granholm.

"With more Americans choosing to drive EVs, President Biden’s Investing in America agenda is building out a reliable and interoperable nationwide EV charging network – an undertaking never before seen in the United States.