July 2022

Brent rose $1.66, or 1.6%, to $106.81 a barrel, WTI increased $1.47, or 1.5%, to $98.17 a barrel.

The price of OPEC basket of thirteen crudes stood at $107.66 a barrel

«Добыча нефти за шесть месяцев превышает прошлогодний уровень на 3,4%, производство электроэнергии – на 1,9%, а значит потребление электроэнергии также примерно на эту же величину выше. Добыча угля – примерно на уровне прошлого года. Производство автобензина, дизельного топлива даже на 4,5% выше прошлого года. По газу, по известным причинам, – пока минус 5%», – рассказал Министр.

Gas prices jumped more than 10% following Gazprom’s decision to reduce Nord Stream flows even further. Moscow has been curbing shipments to the EU for months over apparent retaliation for the bloc’s support for Ukraine and sanctions over Russia’s invasion.

Natural gas flows from Russia to Germany via the Nord Stream pipeline will fall to 33 million cu m/d at 0700 Moscow time (0500 BST) due to the cessation of operations on another Siemens gas turbine at Portovaya

The company boosted coal production by 6.2% to 300 million tons and increased sales to 390 million tons.

Most U.S. LNG exports went to the EU and the UK during the first five months of this year, accounting for 71%, or 8.2 Bcf/d, of the total U.S. LNG exports

As technology evolves faster than ever, we become more and more reliant on a new cohort of minerals. We are moving to a world powered by critical minerals: we need lithium, cobalt and graphite to make batteries for electric cars; silicon and tin for our electronics; rare earth elements for electric cars and wind turbines.

The transition to a renewable plus storage grid would require replacement of baseload coal generation and perhaps nuclear generation as well.

U.S. commercial crude oil inventories decreased by 0.4 million barrels to 426.6 million barrels.