The U.S. Department of Energy (DOE) today released a Notice of Intent (NOI) to fund the Bipartisan Infrastructure Law’s $3.5 billion program to capture and store carbon dioxide (CO2) pollution directly from the air.

Brent were down $1.25, or 1.2%, at $107.86 a barrel, WTI fell $1.96, or 1.8%, to $107.63 a barrel.

After a fall of 1 million b/d in April, Russian oil production has risen by 200,000-300,000 b/d in May and will continue to increase next month

SK said the cooperation between TerraPower and group member companies SK Corporation and SK Innovation will "contribute to fostering the next-generation nuclear power plant industry in Korea through cooperation in securing and commercialising core SMR technology ...

The companies are advancing two different approaches to accelerate ground and flight testing for nuclear-powered prototypes: compact fusion and next-gen radioisotope concepts.

SPARC is described by PSFC as a compact, high-field, net fusion energy device which would be the size of existing mid-sized fusion devices, but with a much stronger magnetic field. It is predicted to produce 50-100 MW of fusion power, achieving fusion gain greater than 10.

U.S. commercial crude oil inventories decreased by 3.4 million barrels to 420.8 million barrels.

Brent was up 23 cents, or 0.2%, at $112.16 a barrel, WTI climbed 71 cents, or 0.6%, to $113.11 a barrel.

The Finnish transmission system operator (TSO) Fingrid estimates that there is no threat to the sufficiency of electricity in the country since electricity imports from Russia covered about 10% of Finland’s total consumption before the suspension.

Gazprom produced 193.8 billion cubic meters of gas from January 1 through May 15, 2022. This is a decrease of 3.7 per cent (or 7.5 billion cubic meters) versus the same period of 2021.