During the past 12 months (July 2021–June 2022), the monthly average Henry Hub natural gas spot price, which is a U.S. benchmark, nearly doubled

As a result, China's crude throughput in June rose a further 1.9% month on month to 54.94 million mt in May, when the volume had rebounded 4.1% from a 35-month low of 51.81 million mt in April,

U.S. commercial crude oil inventories increased by 3.3 million barrels to 427.1 million barrels.

Brent were down 18 cents to $99.39 a barrel, WTI was at $95.84 a barrel, down 43 cents.

Brent was up 73 cents, or 0.7%, at $100.22 a barrel, WTI gained 68 cents, or 0.7%, to $96.52.

The spot price of Brent crude oil averaged $71 per barrel (b) in 2021, and we forecast the Brent price will average $104/b in 2022 and $94/b in 2023.

Total oil demand is projected to average 100.3 mb/d. For 2023, world oil demand growth is expected to reach 2.7 mb/d to average 103.0 mb/d.

In June 2022 Gazprom had reduced gas supplies over the Nord Stream 1 pipeline to 67 mcm/d (24.5 bcm/year).

France, Germany and Poland continued to receive term diesel cargoes from Russia, while spot diesel cargoes that would typically supply the UK are now ending up in the Amsterdam-Rotterdam-Antwerp hub instead, with a few Primorsk cargoes also finding their way to Barcelona.

Global LNG export capacity has increased by 29%, or 14.0 Bcf/d, over the past five years (2017–21).

Brent fell $1.29, or 1.2%, to $105.73 a barrel, WTI declined by $1.78, or 1.7%, to $103.01.

Europe’s energy industry has been plunged further into turmoil since Russia deepened its supply cuts last month.

Russia's Gazprom on June 16 cut gas supplies via the Nord Stream pipeline to Germany to just 40% of capacity, citing maintenance issues with gas turbines at the key Portovaya compressor station.

Hydrogen is becoming a more versatile fuel, however, and is receiving interest in energy storage, as a transportation fuel, as a fuel for electricity generation, and as a fuel for heating.

Green means the hydrogen has been made using electricity and from renewable sources. But as with electric cars, the environmental footprint is determined by the power mix carbon intensity if it is connected to the grid.