Brent slipped to $64.58 a barrel, WTI dropped 32 cents, or 0.5%, to $61.25.

The European Commission is discussing the introduction of an import quota of zero for Russian gas, according to people with knowledge of the matter.

Despite the global push for transition to cleaner sources of energy, India’s crude oil refining capacity is set to expand — to 450 million tons by the end of the decade from about 250 million tons now — on the back of growing domestic and overseas demand for oil products.

With prices linked to Henry Hub, market sources suggested that the cargoes are likely coming from the US. This is likely the first US LNG SPA signed by a Chinese company since the announcement of China's tariffs on US LNG.

The signing of the memorandum was the result of ongoing joint work between the Institute and Brazilian scientific organisations.

Brent fell 39 cents, or 0.6%, to $66.24 a barrel, WTI slipped 36 cents, or 0.6%, to $63.31.

The essential role of rare earths is as a multiplier, especially in energy applications. In their absence, they move from multiplier to decelerator, especially for renewables.

Then the ACCC weighed in again in late March, warning, ‘the east coast outlook for Quarter 3 2025 has worsened. The market will need access to LNG producers’ uncontracted gas to mitigate the risk of shortfall’.

Brent dropped 22 cents, or 0.3%, to $64.74 per barrel, WTI fell 18 cents, or 0.3%, to $61.77.

In view of the current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 411 thousand barrels per day in June 2025 from May 2025 required production level.