Brent rose 11 cents, or 0.01%, to $96.95 a barrel, WTI were up 6 cents, or 0.07%, to $91.97 a barrel.

In 2021, a large share of Europe’s supply of liquefied natural gas (LNG) originated in the United States, Qatar, and Russia.

The world coal industry has secured $363 billion in bank credits in the period from January 2019 to November 2021, and banks continued to support transactions on the sale of securities of companies in the industry, with their combined sum totalling $1.2 trillion.

Brent was up $3.48, or 3.7%, at $98.87, WTI jumped $4.41, or 4.8%, to $95.48.

Brent slipped to $93.14 a barrel, down 40 cents or 0.4%, after earlier touching $95, WTI dropped 28 cents to $90.79 a barrel.

In the situation that has obtained in recent months on energy markets, it has become clear that one of the foundations of stability of the modern global world is, in the first instance, reliable energy supply, which cannot be provided without observing a reasonable balance of energy sources and an absence of discrimination against traditional sectors of the fuel and energy complex.

"In the current scenario, [the] demand for oil has outpaced production growth as economies slowly rebound from the worst of the pandemic, leaving the market with a small buffer to mitigate an oil supply shock," Singh said.

Brent fell 65 cents, or 0.7%, to $92.32 a barrel, WTI shed 71 cents, or 0.7%, to $91.05 a barrel.

The Company's gas exports to the countries beyond the FSU amounted to 17.9 billion cubic meters, which is 35.5 per cent (or 9.8 billion cubic meters) lower than the figure for the same period of 2021.

U.S. natural gas marketed production will increase to an average of 104.4 billion cubic feet per day (Bcf/d) in 2022 and then further increase to a record-high 106.6 Bcf/d in 2023

U.S. commercial crude oil inventories increased by 1.1 million barrels from the previous week to 411.5 million barrels.

Brent was down $1.26, or 1.3%, at $93.55 a barrel, WTI was down $1.34, or 1.4%, at $92.32.

Russia sees the decision of the European Commission to classify nuclear energy and gas as clean energy sources as "important" and expects it to come into force in the next six months, Novak said.

U.S. crude oil production will increase to 12.0 million b/d in 2022, up 760,000 b/d from 2021.

Brent traded at $93.90 a barrel, WTI was at $92.71 a barrel.