Japan wants to avoid an energy crunch by offering financial support before winter, when heating demand is expected to increase. Spot LNG prices remain at high levels amid a risk of supply disruption from Russia given its war with Ukraine.

Brent rose 52 cents, or 0.6%, to $89.84 a barrel, WTI rose by 52 cents, or 0.6%, to $82.67.

Benchmark prices declined as much as 6.4%, after rising 19% over the previous two days.

Despite the fact neither Nord Stream nor Nord Stream 2 were flowing gas to Europe at the time of the incidents, gas prices rose as much as 9% in early trading Sept. 27.

Although Pertamina remains cautious and the company declined to make official comments on any concrete plans to purchase Russian crude going forward, Ambara Jaya said that the state-run refiner finds several Russian crude grades to be suitable feedstocks.

U.S. commercial crude oil inventories decreased by 0.2 million barrels to 430.6 million barrels.

Brent fell $1.02, or 1.2%, to $85.25 per barrel , WTI were down 97 cents, or 1.2%, at $77.53 per barrel.

Dutch front-month gas, the European benchmark, rose 11% to 206 euros per megawatt-hour at 8:47 a.m. in Amsterdam. Price increased 7.1% on Tuesday.

The currently out-of-action Nord Stream pipeline system was damaged, with Germany saying it suspected it was an act of sabotage.

Naftogaz and Gazprom signed in December 2019 a gas transit agreement under ship-or-pay terms, meaning Gazprom is obliged to pay for transit whether it uses it or not.

The net profit amounted to RUB 2.514 trillion, which not only marks a 2.6-fold increase against the amount recorded in the first half of 2021 but also exceeds the total profit of the Gazprom Group for the two previous calendar years!

Preliminary production figures for August 2022 show an average daily production of 1 998 000 barrels of oil, NGL and condensate.

The ninth edition of IRENA’s series, Renewable energy and jobs: Annual review 2022, produced in collaboration with the International Labour Organization (ILO), provides the latest estimates of renewable energy employment globally.

Brent was up $1.49, or 1.8%, to $85.55 a barrel, WTI was up $1.37, or 1.8%, at $78.08.

The share of imports from Russia has likely risen because of lower imports into China and shifting trade patterns following Russia’s full-scale invasion of Ukraine. Western economic sanctions have reduced demand for Russian crude oil, and as a result, have left Russia to look for alternative export destinations.