Spot LNG prices LNG-AS have nearly tripled since early November as freezing temperatures across North Asia boosted demand and depleted inventories. Since July, prices are up a dizzying 1,000%.

U.S. crude oil production will average 11.1 million b/d in 2021, down 0.2 million b/d from 2020 as result of a decline in drilling activity related to low oil prices.

U.S. marketed gas production for 2021 will fall 2% and average 96.2 billion cubic feet per day (Bcf/d).

U.S. commercial crude oil inventories decreased by 3.2 million barrels to 482.2 million barrels.

The blue-chip NSE Nifty 50 index fell 0.5% to 14,529 and the benchmark S&P BSE Sensex was down 0.4% at 49,600.11 by 0411 GMT.

Assuming human behavior holds steady, a big transition to electricity will send demand skyrocketing. Making matters worse, this will all be happening as we transition away from easily scaled fossil fuel sources to more finicky renewables.

The modern grid, also known as the smart grid, is interconnected and automated, with many technologies involved, including artificial intelligence (AI), edge computing, and the Internet of Things (IoT).

Brent fell 36 cents to $55.70 a barrel. WTI dropped 26 cents to $52.65.

China total oil imports over 2020 were up 7% year on year at 10.86 million b/d

The combination of a severe cold snap in Asia, supply outages and maritime congestion has propelled spot prices for LNG to previously unforeseen heights. The North Asian price benchmark has now risen 18-fold in less than nine months, outperforming other commodities

Electricity consumption in the Unified Energy System (UES) of Russia decreased by 2.4% in 2020.

The US clean energy industry has haemorrhaged over 400,000 jobs since the outbreak of the Covid-19 pandemic,

Brent was up 36 cents, or 0.6%, at $56.94 a barrel. WTI was up 34 cents, or 0.6%, at $53.55 a barrel.

Brent crude oil spot prices to average $53 per barrel (b) in both 2021 and 2022 compared with an average of $42/b in 2020.

The companies could be at risk of U.S. sanctions under existing law if they do not stop work.