Brent slipped 56 cents, or 0.62%, to $89.46 a barrel, WTI fell 63 cents, or 0.74%, to $84.73 a barrel.

"If Europe is still importing LNG from Russia, it is because there is a need," a France-based gas trader said. "With our other main suppliers, such as Norway, operating at maximum capacity, it will be hard to completely stop the flow of Russian LNG. We are still not completely out of the crisis."

India's overall oil and gas output rose 1.3% on the year to 1.15 million boe/d in 2023. China's upstream story sounds relatively more promising at this stage.

As solar and storage costs continue to decrease, at what point will having stand-alone power for customers of all types be a reality? What about microgrids that can use fuel cells and emerging green or even blue hydrogen technologies.

Factors in the Energy Utility Grid’s growth involve two facets of the Energy Industry, technology and energy consumer populations. Technology developments successfully applied to the Energy Utility Grid to expand efficiency, reliability, and stability include AI, SMART Grid platforms, and DERs.

Brent climbed 51 cents, or 0.57%, to $90.25 a barrel, WTI rose 61 cents, or 0.72%, to $85.63.

While Urals has been above $60 almost all year, this month’s surge to well above $70 will stretch the credibility of those attestations for traders wanting to keep using western services.

Last week, OPEC+ said it would maintain its voluntary cuts until July. The cartel is expected to decide on its continued production cuts beyond then at its next full ministerial meeting scheduled for June 1.

#WTICrude OilPrice holds a two day declines and trades on high $84s/bbl price print after the API Report publications for the week stated that US oil stocks added 3.03m barrels last week, subtotalling towards the 3rd consecutive weekly addition prior to the EIA Report.

Russia’s gas-transit agreement with Ukraine also expires at the end of the year, and there’s little clarity as of now if these volumes will still find their way to Europe.

The Worldwide Rig Count for March was 1,793, down 20 from the 1,813 counted in February 2024, and down 86,from the 1,878 counted in March 2023.

Brent dropped $1.42, or 1.6%, to $89.75 a barrel, WTI was at $85.59 a barrel, down $1.32, or 1.5%.

Russia, which prior to invading Ukraine had an insignificant role in India’s oil basket, has seen exports to India swell since the start of the war and consequent Western sanctions, becoming the country’s top supplier.

Brent rose 20 cents, or 0.22%, to $89.12 per barrel, WTI climbed 17 cents, or about 0.2%, to $85.32 a barrel.

Brent rose 23 cents to $86.98 a barrel, WTI climbed 28 cents to $82.23.