The selected projects, led by universities, national laboratories, and the private sector aim to develop commercially scalable technologies that will enable greater domestic supplies of copper, nickel, lithium, cobalt, rare earth elements, and other critical elements.

Brent dropped $1.02, or 1.1%, to $95.94 a barrel, WTI were down $1.24, or 1.4%, at $87.84 a barrel.

The G7 and EU are finalizing details of a price cap that is intended to be implemented with the EU ban on seaborne Russian crude imports on Dec. 5 and Russian oil products on Feb. 5, 2023.

The recent fall in European gas prices may not last, according to Italian energy major Eni SpA. “It’s a temporary situation,” Chief Executive Officer Claudio Descalzi said in Abu Dhabi. “We have problems in 2023 because in 2023 we don’t have Russian gas.”

The push to fill storage facilities before the start of winter has been successful -- with many close to capacity. But some suppliers may now want to hold back those reserves until they can sell their stored gas at more attractive rates.

Just eliminating fossil fuel alone is a tall order -- 22 percent of the current generating mix is coal and 38 percent is natural gas. Half of the generation will, in theory, go offline while demand for electricity soars.

The US and India have continually increased their trade in other sectors, so this has made partnering on energy very easy. Additionally, both countries are facing difficulties with keeping energy prices low, so they have had to look for new initiatives.

The AMAN project, located in the Dakhlet Nouadhibou and Inchiri regions of Mauritania, will include 18GW of wind capacity and 12GW of solar capacity.

As a first step toward enhancing cooperation under WECAN, the USA and Japan announced a partnership with Ghana to support Ghana's ambition of being a first mover in SMR deployment in Africa and establishing itself as an advanced nuclear technology hub.

U.S. Rig Count is down 3 from last week to 768, Canada Rig Count is up 2 from last week to 212.