2017

Brent crude LCOc1 was down 9 cents at $46.56 a barrel at 1033 GMT. It reached a seven-month low of $44.35 on June 21. U.S. crude fell 17 cents to $44.07.

The August light, sweet crude contract on NYMEX gained 37¢ on June 26 to settle at $43.38/bbl. The September contract was up 34¢ to close at $43.61/bbl. The NYMEX natural gas price for July gained nearly 10¢ to a rounded $3.03/MMbtu. The Henry Hub cash gas price was $2.98/MMbtu, up 12¢. The Brent crude contract for August on London’s ICE increased 29¢ to $45.83/bbl while the September contract was up 29¢ to $46.04/bbl. The July gas oil contract dropped $1.75 to $409.50/tonne. OPEC’s basket of crudes on June 26 was $43.14/bbl, down 12¢.

The NYMEX July natural gas futures contract settled 1 cent higher at $3.037/MMBtu on Tuesday, as a bullish weather outlook continued to drive up prices.

U.S. crude oil and petroleum product gross exports have more than doubled over the past six years, increasing from 2.4 million barrels per day (b/d) in 2010 to 5.2 million b/d in 2016. Exports of distillate, gasoline, propane, and crude oil have all increased, but at different paces and for different reasons.

All in all, in our judgement, the U.S. economic model is not working as well as it could in generating broadly shared income growth.

Among China's LNG suppliers Australia has fared best, with imports rising 42.7 percent in the first five months to 5.39 million tonnes, almost double that of second-placed Qatar at 2.84 million tonnes.

Global benchmark Brent crude futures were trading up 45 cents, or 1.0 percent, at $45.99 per barrel at 0623 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 43 cents, or 1.0 percent, at $43.44 per barrel.

“Prices can go below $40 a barrel given the market is being dictated by sentiment and not fundamentals. There is nothing to stop it right now.”

Keeping the rise of global temperatures below 2 degrees Celsius means reducing energy-related carbon dioxide emissions by more than 70 per cent by 2050 (compared to 2015 levels). Analysis by IRENA for the G20 Presidency has shown that renewable energy and energy efficiency could potentially achieve 90 per cent of those reductions.

Turkstream has been promoted by Mr Putin as a way to deepenaccess to the Turkish market, which was the second biggest for Russian natural gas last year after Germany, and to support his strategic objective to bypass Ukrainian pipelines.