Iraq's Ministry of Oil has announced preliminary oil exports for September of 98,765,153 barrels, giving an average for the month of 3.292 million barrels per day (bpd), slightly up from the 3.286 million bpd exported in August.

Excluding Russia's share of Kazakhstan's CPC Blend exports, Russian crude exports averaged 2.99 million b/d in the month, down 290,000 b/d on the August levels and lowest since September 2021 when global oil demand was still recovering from pandemic lockdowns

U.S. commercial crude oil inventories decreased by 01.4 million barrels to 429.2 million barrels.

China’s crude oil imports peaked in late 2020 and early 2021 before decreasing as a result of lower domestic demand and higher global crude oil prices.

Gazprom PJSC said it has found a solution with Italian buyers to overcome the regulatory changes in Austria at the end of September that were preventing transit flows,

"If a decision is made to start deliveries through Nord Stream 2's line B, natural gas will be pumped into the pipeline after the integrity of the system has been checked and verified by supervisory authorities," it said.

The halt in deliveries to Italy is the latest disruption to Russian gas flows to Europe after supplies were already halted via the Yamal-Europe and Nord Stream pipelines earlier this year and deliveries via Ukraine sharply curtailed.

In a spokesman for the Kremlin last week where Europe was threatened about how difficult it would be to face the coming winter.

Benchmark futures declined as much as 5.9%. Ministers supported measures including a power-demand reduction goal and a profit grab from energy companies, and said more was likely this week.

Japan wants to avoid an energy crunch by offering financial support before winter, when heating demand is expected to increase. Spot LNG prices remain at high levels amid a risk of supply disruption from Russia given its war with Ukraine.

Despite the fact neither Nord Stream nor Nord Stream 2 were flowing gas to Europe at the time of the incidents, gas prices rose as much as 9% in early trading Sept. 27.

Although Pertamina remains cautious and the company declined to make official comments on any concrete plans to purchase Russian crude going forward, Ambara Jaya said that the state-run refiner finds several Russian crude grades to be suitable feedstocks.

U.S. commercial crude oil inventories decreased by 0.2 million barrels to 430.6 million barrels.

The currently out-of-action Nord Stream pipeline system was damaged, with Germany saying it suspected it was an act of sabotage.

Naftogaz and Gazprom signed in December 2019 a gas transit agreement under ship-or-pay terms, meaning Gazprom is obliged to pay for transit whether it uses it or not.