Russia has informed the International Atomic Energy Agency (IAEA) that its military forces have taken control of the territory around Ukraine’s Zaporizhzhia Nuclear Power Plant (NPP),

Engie said it would comply with any European sanctions that could potentially affect Russian gas supplies to Europe, but warned of the major impact such a move would have on the market.

Shares in oil giant Aramco touched the highest level in its history of SR43.1 ($11.5) on Wednesday, propelled by a rally in the energy market.

U.S. commercial crude oil inventories decreased by 2.6 million barrels from the previous week to 413.4 million barrels.

Brent rose by as much as $8 and touched as high as $113.02 a barrel, before easing to $111.75, WTI were up $7.24, or 7%, to $110.67 a barrel.

OPEC+ members are attempting to regain pre-pandemic output levels by late 2022 through their monthly easing of quotas, but potential disruptions to Russian oil flows put that plan at risk.

The implementation of OPEC Plus agreements was discussed. The parties stressed their intention to continue coordinated effort in the interests of maintaining global energy market stability.

В ходе встречи стороны обсудили текущую совместную работу России и Белоруссии по формированию объединённых энергетических рынков Союзного государства, в центре внимания было газовое сотрудничество.

Средняя цена на нефть марки Urals в феврале 2022 года сложилась в размере $92,15 за баррель, что в 1,5 раза выше, чем в феврале 2021 года ($60,78 за баррель).

“We are deeply shocked and saddened by the devastating human and economic toll brought by the war in Ukraine. People are being killed, injured, and forced to flee, and massive damage is caused to the country’s physical infrastructure.

Russia and India in December signed new energy cooperation agreements, including a contract for Rosneft to ship almost 15 million barrels of crude to India in 2022, according to government and company statements.

Germany will look into all options in response to the likely decrease or stop in Russian fossil fuel deliveries to Germany, including a longer run-time of nuclear and coal-fired power plants, even if those options are unlikely.

The United States aims to instal 30 GW of offshore wind by 2030. At the regional level, New York and New Jersey have set the target of installing 16 GW of offshore wind by 2035.

Brent advanced 1.8% to $99.7, WTI rose 1.6% to $97.28.

Despite the latest unloading of Russian petroleum products in the US, shipments have recently been in decline. US imports of Russian crude oil have fallen to roughly 13,500 b/d since Jan. 1, down from an average of 199,000 b/d in 2021, according to the latest US data, reflecting declining reliance on Russian crude as the Ukraine crisis escalated.