Despite experiencing a series of adverse shocks—higher-than-expected inflation, the ongoing supply disruptions related to COVID-19, and Russia’s invasion of Ukraine—the financial system has been resilient, though portions of the commodities markets temporarily experienced elevated levels of stress.

Just when it didn’t seem things couldn’t get worse — gasoline at $5 to $8 a gallon, supply shortages in everything from baby formula to new cars — comes the devastating news that many of us will endure electricity blackouts this summer.

Since the wind turbine capacity factors are in the 40-50% range, their annual potential output is typically half, or less, of the annual potential output of a conventional generator of the same rating plate capacity.

U.S. Rig Count is up 7 from last week to 740, Canada Rig Count is up 15 from last week to 156.

Brent was up $1.13, or 0.9%, to $120.94 a barrel, WTI gained $1.03, or 0.9%, to $118.62.

The price of OPEC basket of thirteen crudes stood at $119.24 a barrel

Brent were down 45 cents, or 0.4%, to $118.06 a barrel , WTI fell 44 cents to $114.87, also off 0.4%.

"We see that we have a fairly significant increase in June compared to May, up around 600,000 b/d," Novak said on the sidelines of the St Petersburg International Economic Forum,

Compared to pre-war levels in January and February, Russia's shipped crude exports from June 1-15 rose by 576,000 b/d to average about 3.88 million b/d,

European nations have for months feared Russian supply cuts in retaliation for sanctions aimed at Moscow for its invasion of Ukraine.

According to preliminary data, Gazprom produced 226 billion cubic meters of gas from January 1 through June 15, 2022. This is a decrease of 6.4 per cent (or 15.5 billion cubic meters) versus the same period of last year.

The Committee decided to raise the target range for the federal funds rate to 1‑1/2 to 1-3/4 percent and anticipates that ongoing increases in the target range will be appropriate.

U.S. commercial crude oil inventories increased by 2.0 million barrels to 418.7 million barrels.

Brent were down $1.27, or 1%, at $119.90 a barrel, WTI fell $1.44, or 1.2%, to $117.49 a barrel.

The price of OPEC basket of thirteen crudes stood at $123.73 a barrel