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.

Dutch front-month gas, Europe’s benchmark, rose 3.4% to €111 per megawatt-hour at 8:57 a.m. in Amsterdam, paring some of the weekly decline.

While US fuel now makes up 40% of Europe’s liquefied natural gas imports, it will only offset a fraction of the deficit from Russia next summer,

Lower Russian supplies sent European gas prices to all-time highs in late August though prices have come down sharply as storage sites across the EU were filled to close to capacity.

Concluding the plenary part, Maksim Malyarchuk, Executive Director of the Russian-Iraqi Business Council at the Chamber of Commerce and Industry of the Russian Federation, spoke about the activities of the Council and assistance to Russian and Iraqi companies in the new conditions.

NuScale and Prodigy have been collaborating since 2018 under a Memorandum of Understanding (MOU) aimed at bringing a competitive North American SMR marine facility to market – a product that can generate safe, affordable, and reliable electricity at grid-scale at any coastal location worldwide.

U.S. commercial crude oil inventories increased by 2.6 million barrels to 439.9 million barrels.

Brent rose 56 cents, or 0.6%, to $96.25 a barrel, WTI gained 41 cents, or 0.5%, to $88.32.

As the cleanest hydrocarbon fuel, natural gas is seen as the perfect solution that strikes the right balance, and will continue to play a key role in the future energy mix.

Further in 2023, consumption is forecasted to increase by up to 1.1% driven by China, South and South East Asia and the Middle East.