Total nonfarm payroll employment increased by 315,000 in August, and the unemployment rate rose to 3.7 percent, the U.S. Bureau of Labor Statistics reported

The Worldwide Rig Count for August was 1,825, up 50 from the 1,775 counted in July 2022,and up 391 from the 1,434 counted in August 2021.

U.S. Rig Count is down 5 from last week to 760, Canada Rig Count is up 7 from last week to 208.

Brent settled down $3.28 at $92.36 a barrel, WTI fell $2.94, or 3.3%, to $86.61 per barrel.

German year-ahead electricity futures plunged as much as 54% from Monday’s peak above 1,000 euros a megawatt-hour as the European Union considers various measures to intervene in the market to damp runaway energy costs crippling economies across the bloc.

The length of the barge under construction in China will be 140 metres and the width 30 metres. The weight of the hull without equipment will be 9,549 tons and with equipment 19,088 tons. It is planned that the hull will be delivered to Russia by the end of 2023 for the completion and installation of the reactors and other equipment.

This is part of the GBP1.7 billion of new direct government funding to develop a large-scale nuclear project announced in October.

Brent fell $2.10, or 2.2%, to $93.54 a barrel, WTI slid $1.86, or 2.1%, to $87.69 a barrel.

India has emerged as a key buyer of Russian energy in the wake of the invasion, scooping up millions of barrels of discounted crude shunned by Europe and the US.

Germany, which has the European Union’s biggest economy, and other countries intend restarting mothballed coal-fired power plants and extending the life of their nuclear power plants to reduce their reliance on Russian gas and coal following its invasion of Ukraine.

The EU’s energy agency, Acer, has warned against tearing up the market structure. In a report in April, it said that the EU’s wholesale electricity markets work well under normal conditions, ensuring secure electricity supply.

Gazprom's gas exports to Europe have slumped in 2022, but record high gas prices meant the company was still able to post record revenues and net profit for the first half.

High spot LNG prices are causing end users to look to alternative fuels for their energy needs,

Ghana's Ministry of Energy is developing a National Energy Transition Plan that will help the country move to cleaner energy, with nuclear power playing a critical role as a base.

Brent climbed 89 cents, or 0.9%, to $100.20 a barrel, WTI jumped 82 cents, or 0.9%, to $92.46 a barrel