Going by big-ticket announcements of exits from coal in the last few weeks, sentiment in Australia is tilting toward those opposed to coal consumption, but market sources believe in the absence of replacement electricity generation sources, the closure of coal plants will inflate consumer power prices.

Brent eased by 7 cents, or 0.08%, to $91.55 a barrel, WTI were down 12 cents, or 0.14%, at $85.34.

Benchmark futures dropped as much as 10.1% to 115 euros per megawatt-hour, the lowest intraday level since mid-June.

According to preliminary data, Gazprom produced 327.4 billion cubic meters of gas from January 1 through October 15, 2022. This is a decrease of 18 per cent (or 72 billion cubic meters) versus the same period of last year.

Brent rose 81 cents, or 0.88%, to $92.44 a barrel, WTI was at $86.33 a barrel.

The EU has already asked members to voluntarily reduce gas demand by 15%, and Energy Commissioner Kadri Simson has said a plan is under consideration to make the cut mandatory.

Progress on the world’s rising climate action ambitions could be undermined by a shortage of some of the critical minerals used in clean-energy technologies including wind turbines, solar farms and electric vehicles (EVs),

With AI, utilities can forecast more accurately to predict how much actual power their installations will generate in any situation.

U.S. Rig Count is up 7 from last week to 769, Canada Rig Count is up 1 from last week to 216.

U.S. commercial crude oil inventories increased by 9.9 million barrels to 439.1 million barrels.

Brent rose 49 cents, or 0.5%, to $92.94 a barrel , WTI was up 37 cents, or 0.4%, at $87.64 a barrel.

Global oil demand for 2022 is now expected to grow by about 2.6 mb/d.

The Brent crude oil spot price averages $93 per barrel (b) in the fourth quarter of 2022 (4Q22) and $95/b in 2023.

Brent were down 2 cents, or 0.02%, to $94.27 a barrel, WTI was at $89.14 a barrel, down 21 cents, or 0.24%.

Brent was down $1.63, or 1.7%, to $94.56 a barrel, WTI dropped $1.82, or 2%, to $89.31.