The Worldwide Rig Count for October was 1,893, up 40 from the 1,853 counted in September 2022,and up 389 from the 1,504 counted in October 2021.

U.S. Rig Count is up 2 from last week to 770, Canada Rig Count is down 3 from last week to 209.

Brent dropped 85 cents, or 0.9%, to $95.30 a barrel, WTI fell $1.01, or 1.1%, to $88.99.

Currently, the most expensive form of generation -- gas -- sets the price for all electricity that’s sold into the market. That means consumers are bearing the brunt of Russia’s supply cuts to the continent. It also means Europe isn’t feeling much of the benefit of low-cost renewables like wind farms, which get to sell at big margins.

Additional domestic gas production from a bigger reserve base in the Black Sea may allow Turkey to reverse some of the recent electricity and gas price hikes.

According to preliminary data, Gazprom produced 344 billion cubic meters of gas from January through October 2022. This is a decrease of 18.6 per cent (or 78.8 billion cubic meters) versus the same period of last year.

In collaboration with Urenco Ltd, Westinghouse will complete a Pre-Front End Engineering Design study for a secure and reliable supply of advanced TRi-structural ISOtropic (TRISO) fuels to support a range of potential high-temperature gas-cooled reactor (HTGR) technologies in development.

"The Krško nuclear power plant is synonymous with a stable, reliable and safe nuclear power plant. If there were more such power plants in Europe, the energy situation at the European level would be significantly better."

The Committee decided to raise the target range for the federal funds rate to 3-3/4 to 4 percent.

U.S. commercial crude oil inventories decreased by 3.1 million barrels to 436.8 million barrels.

Brent rose 54 cents, or 0.6%, to $95.19 a barrel, WTI rose 72 cents, or 0.8%, to $89.09 a barrel.

Dutch front-month gas, Europe’s benchmark, traded 2.4% higher at €119 per megawatt-hour by 8:43 a.m. in Amsterdam after losing 5.8% a day earlier.

UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change Dr. Sultan Al Jaber and Special Presidential Coordinator Amos Hochstein signed the Partnership on behalf of the UAE and the US.

Under a 2017 contract, the reactors are being supplied by Russia's Rosatom, complete with a lifetime of nuclear fuel and facilities for used fuel storage.

“Türkiye, due to its geographical position, is an energy corridor from Russia, Iran, and Saudi Arabia. Any kind of natural gas or oil that is going to be transported or shipped, will cost less and will be shipped more safely,”