Benchmark futures fell as much as 3.5%. While the continent’s gas inventories dropped last week amid a cold spell, they are still far above historic averages.

Start of a new week at the months end has been very rangebound in terms of the price action on the Oil tabs. Previous week has been swings on the #BRENT & #WTI with an average of 3%(+/-) on the Bearish bias majorly as we approach the Globex Open.Asia session will shed light on the weekly movement.

Electricity prices surged 14.3% in 2022, double overall inflation" Consumer Price Increase data released Jan. 12 by the U.S. Bureau of Labor Statistics indicate consumers paid 14.3% more yr over yr, compared to overall 6.5% rise in prices.

Brent gained 30 cents, or 0.34%, to $87.77 a barrel, WTI rose 34 cents to $81.35 per barrel.

Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2022, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

U.S. commercial crude oil inventories increased by 0.5 million barrels to 448.5 million barrels.

Brent rose 22 cents, or 0.3%, to $86.35 per barrel, WTI climbed 13 cents, or 0.2%, to $80.26 per barrel.

Brent was down 11 cents, or 0.1%, to $87.52, WTI fell 8 cents, or 0.1%, to $81.56 a barrel.

Dutch front-month futures, were 0.2% lower at €66.80 a megawatt-hour by 8:58 a.m. in Amsterdam, after rising as much as 3.1% earlier.

Preliminary production figures for December 2022 show an average daily production of 1 983 000 barrels of oil, NGL and condensate.

Brent gained 26 cents, or 0.3%, to $86.42 a barrel, WTI advanced 43 cents to $80.76 per barrel.

Dutch front-month futures, Europe’s gas benchmark, were 2.8% lower at €59 a megawatt-hour by 8:29 a.m. in Amsterdam.

As a result, Russian diesel makes up 27% of Europe's total 1.69 million b/d of imports in the period, the data showed.

По состоянию на 1 января 2023 г. объем ФНБ составил 10 434 580,8 млн рублей, что эквивалентно 148 350,2 млн долл. США.

U.S. commercial crude oil inventories increased by 8.4 million barrels to 448.0 million barrels.