U.S. commercial crude oil inventories decreased by 4.6 million barrels from the previous week to 428.3 million barrels.

Brent rose by 62 cents, or 0.8%, to $74.50 a barrel, WTI gained by 65 cents, or 0.9%, to $71.52.

Specifically, the commission proposed to align the rules for the energy performance of buildings with the European Green Deal and decarbonise the EU's building stock by 2050.

Brent fell 91 cents, or 1.2%, to $72.79 a barrel, WTI fell $1.05, or 1.5%, to $69.68 a barrel.

Globally, renewable electricity capacity is forecast to increase by over 60% between 2020 and 2026, reaching more than 4 800 GW.

It is unusual for European LNG prices to surpass spot LNG prices in Asia, which relies on LNG imports much more than Europe, and especially in peak winter when demand from Japan, South Korea, China and Taiwan is at its highest, supporting the typical Asian premium.

The Dec. 12 LNG stocks were well above 1.42 million mt held at the end of December last year, as well as the four-year average of 1.71 million mt at the end of that month, according to METI data.

Derivatives linked to TTF, Europe’s wholesale gas price, soared as high as €131 per megawatt hour

Front-month gas futures fell 4.7 cents, or 1.2%, to settle at $3.747 per million British thermal units (mmBtu), their lowest close since Dec. 7.

Brent dropped 24 cents, or 0.32%, to $74.15 a barrel, WTI declined by 27 cents, or 0.38%, to $71.02.

World oil demand is kept unchanged compared to last month’s assessment, showing a growth of 5.7 mb/d in 2021.

Brent climbed 72 cents, or 1.0%, to $75.87 a barrel, WTI climbed 72 cents, or 1.0%, to $75.87 a barrel.

The Neutral Zone fields, which lie in onshore and offshore territory shared by Saudi Arabia and Kuwait at their border, were offline for more than four years until 2020, due to a political dispute that was resolved with a signing of an agreement in December 2019.

Among the 17 Sustainable Development Goals (SDGs) of the 2030 Agenda made by the United Nations (UN), there is the objective of ensuring reliable, sustainable, modern, and affordable access to clean energy for all.

U.S. Rig Count is up 7 from last week to 576, Canada Rig Count is down 3 from last week to 177.