In a statement, Gazprom said it had sent a letter to Naftogaz -- signed by Gazprom CEO Alexei Miller -- to "extend the existing contract or to conclude a new gas transit agreement through Ukraine for a period of one year."

Putin said Ukraine still had work to do to align its gas regulatory landscape with that of Europe, questioning whether Kiev would be able to achieve this in time. "That is not up to us," he said. "Therefore, the risk of termination of transit exists."

Borrowing by businesses is historically high relative to gross domestic product (GDP), with the most rapid increases in debt concentrated among the riskiest firms amid weak credit standards By contrast, household borrowing remains at a modest level relative to income, and the amount of debt owed by borrowers with credit scores below prime has remained flat

U.S. Industrial production fell 0.8 percent in October after declining 0.3 percent in September. Manufacturing production decreased 0.6 percent in October.

U.S. Rig Count is down 11 rigs from last week to 806, Canada Rig Count is down 6 rigs from last week to 134

Blistering growth in shale fields propelled U.S. crude output to a record 13 million barrels per day (bpd) this month.

"The law implements a European compromise, in which we, together with France and the Commission and other member states played a major role," Altmaier said.

A U.S. Climate Agenda recommends that a U.S. decarbonization strategy be guided by these key objectives: achieving net-zero emissions no later than 2050,

Rosneft already supplies crude to India, shipping to its subsidiary Nayara Energy which operates the 20 million mt/year Vadinar refinery in Gujarat.

The timeline for work to lay the section of pipeline in Danish waters will be key to when Nord Stream 2 is able to begin flowing gas, with wider implications for the European gas market -- including whether Russia's Gazprom agrees a new transit deal with Ukraine's Naftogaz.