Total Russian pipeline exports to Europe in January via the two remaining major supply routes were 36% down on deliveries in December and 79% lower year on year.

The transition to a low-carbon world requires a range of other energy sources and technologies, including low-carbon hydrogen, modern bioenergy, and carbon capture, use and storage.

India plans to spend US$4.3bn on energy transition through the Ministry of Petroleum and Gas, including programs for green fuel, green energy, green farming, green mobility, green buildings, and green equipment and policies for efficient use of energy across various economic sectors.

The Committee decided to raise the target range for the federal funds rate to 4-1/2 to 4-3/4 percent.

U.S. commercial crude oil inventories increased by 4.1 million barrels to 452.7 million barrels.

Brent gained 8 cents, or 0.1%, to $85.54 a barrel, WTI rose 20 cents, or 0.2%, to $79.07 a barrel.

Further development of bilateral cooperation in the political, trade, economic and energy sectors, as well as cooperation within the OPEC Plus group to provide the stability of global oil market were discussed.

"National consultations have clearly shown that the Hungarians do not want sanctions, because they will not help Ukraine, they will not bring Russia to its knees and will only cause terrible damage to Europe and Hungary," Orban stressed. He believes the results of the national consultations will be a significant help in his discussions with the leadership of the EU and other countries.

The cold spell next week signals the possibility of heavier withdrawals from the region’s gas storage sites, though inventories are still almost 73% full and well above average levels of the last five years.

Brent fell 74 cents, or 0.8%, to $85.92 a barrel , WTI was at $79.07 a barrel, down 61 cents, or 0.8%.