El-Dabaa - Egypt's first NPP - is to be built in the province of Matruh on the Mediterranean coast, about 300km north-west of Cairo.

Last week we saw major volatility on the Oil tabs especially on the Bearish alignment,as the rangebound zones maintained within the Crude Oil WTI

The decree created a new Russian firm that will take over all rights and obligations of Sakhalin Energy Investment Corporation.

Brent fell 33 cents, or 0.3%, to $111.30 a barrel, WTI slipped 40 cents, or 0.4%, to $108.03.

Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th and 29th OPEC and non-OPEC Ministerial Meetings and the decision to adjust upward the monthly overall production for the month of August 2022 by 0.648 mb/d.

Russia has reduced shipments through its biggest Nord Stream pipeline by 60% and the link is scheduled for a full shutdown next week for maintenance.

“Such a collapse would have massive consequences for the entire economy and jobs in Germany.”

German leaders are stepping up warnings of impending turmoil and natural-gas shortages in Europe’s biggest economy, which relies on Russia for about one-third of its energy.

Brent climbed $1.9, or 1.7%, to $116.99, WTI rose $1.8, or 1.6%, to $111.36 a barrel.

The European Commission will next month present a plan for EU countries to coordinate their preparations for further gas shocks, as Russia has already cut or reduced supplies to 12 of the bloc's 27 member states.