Preliminary production figures for August 2022 show an average daily production of 1 998 000 barrels of oil, NGL and condensate.

Brent was up $1.49, or 1.8%, to $85.55 a barrel, WTI was up $1.37, or 1.8%, at $78.08.

The share of imports from Russia has likely risen because of lower imports into China and shifting trade patterns following Russia’s full-scale invasion of Ukraine. Western economic sanctions have reduced demand for Russian crude oil, and as a result, have left Russia to look for alternative export destinations.

U.S. Rig Count is up 1 from last week to 764, Canada Rig Count is up 4 from last week to 215

Brent were up 70 cents, or 0.78%, to $90.53, WTI was up 71 cents, or 86%, at $83.65.

U.S. commercial crude oil inventories increased by 1.1 million barrels to 430.8 million barrels.

Brent rose $2.28, or 2.5%, to $92.90 a barrel, WTI was at $86.16 a barrel, up$2.22, or 2.6%.

Benchmark futures jumped as much as 10% for a second day of gains. In the latest move to ensure supply, Germany said it will nationalize Uniper SE and avert a collapse of the energy sector with winter just days away.

G7 countries have also agreed to finalize a price cap for Russian crude. The US Treasury has indicated that three separate price caps will be introduced -- for crude, high-value refined products and low-value refined products.

Brent fell $1.17, or 1.3%, to $90.18, WTI dropped $1.14, or 1.3%, to $83.97.