Oil-entropy is still ongoing,somewhat of a tug of war developing with a mix of SPR watch outs.At least the volume on the Geopolitics has toned down a bit,maybe on the 'baguette' side of life where protests have been rocking Paris.Taiwan presidential hopeful vows to maintain peace with China.

The SMR Alliance includes 11 government and public institutions, including the Ministry of Trade, Industry & Energy (MOTIE), Korea Hydro & Nuclear Power (KHNP) and the Korea Energy Economics Institute, as well as 31 companies, including GS Energy, SK Inc, Samsung C&T, Daewoo E&C and Doosan Enerability.

U.S. commercial crude oil inventories decreased by 1.5 million barrels to 452.2 million barrels.

Brent rose 16 cents or 0.2% to stand at $74.67, WTI gained 8 cents or 0.1% to $69.95.

Asian demand has also led to Saudi Aramco's optimism about the global oil market's prospects for the rest of the year, its CEO Amin H. Nasser said at the conference, adding that oil market fundamentals remain "generally sound".

In 2021, Russia pumped about 150 billion cubic meters of pipeline gas to Europe — more than enough to satisfy the combined annual consumption of Germany, France and Austria. Europe represented two-thirds of the country’s gas exports including flows of liquified natural gas.

All the plant's fuel is being provided by Rosatom under a contract finalised in August 2019, and the final protocol required for delivery to go ahead was signed last month. All used fuel from the plant will be repatriated to Russia.

“Norway is the only net exporter of oil and gas in Europe, and by implementing these projects we ensure new production from the latter half of the 2020s, so that we can maintain high Norwegian deliveries,”

Under the terms of the deal announced on Friday, Eni will acquire Neptune for $2.6bn, while Vår Energi — Eni’s Norwegian listed subsidiary — will acquire the company’s operations in Norway for $2.3bn.

Brent slipped 51 cents, or 0.4%, to $73.76 a barrel, WTI were down 42 cents, or 0.6%, at $69.09.