Tokyo Gas and Japan's largest power generation company JERA said previously that they have signed new LNG supply agreements on the same terms as previous agreements. Sources said that new contracts were required due to the change of operator.

Energy buyers in Europe have been eagerly anticipating production from Eni SpA’s project in Mozambique’s northern waters to help ease the global gas shortage ahead of the crucial winter heating season.

Japan's biggest city gas supplier Tokyo Gas Co Ltd has signed a long-term contract with a new Russian operator of Sakhalin-2 energy project to buy liquefied natural gas (LNG), a spokesperson for the Japanese company said on Tuesday.

U.S. commercial crude oil inventories decreased by 3.3 million barrels to 421.7 million barrels.

Russia's crude exports rose by 140,000 b/d on the month to average 3.36 million b/d from Aug 1-16 to remain above pre-war levels for the fifth month in a row,

For 2023, the forecast for world oil demand growth remains unchanged at 2.7 mb/d, with total oil demand averaging 102.7 mb/d.

Russia’s natural gas exports by pipeline to the European Union (EU) and the United Kingdom (UK) declined by almost 40% during the first seven months of 2022 compared with the same period in 2021 and by almost 50% compared with the previous five-year (2017–21) average,

Russian oil production in July was only 310,000 b/d below prewar levels, a fall of less than 3 per cent, while total oil exports were down about 580,000 b/d, according to the IEA’s latest monthly oil report.

The money lost is dwarfed by enormous profits both BP and Shell recorded this year on the back of soaring refining margins and high oil and gas prices.

U.S. commercial crude oil inventories increased by 5.5 million barrels to 432.0 million barrels.

Benchmark gas declined as much as 2.9%, sliding for a third session. The continent’s storage sites are 72% full, compared to the average for the previous five years of 70.1%, data from Gas Infrastructure Europe show.

China's crude stocks stood at an 11-month high of 945 million barrels in May, accounting for 63% of the country's crude storage capacity

"Sakhalin-1 is a valuable non-Middle East source for Japan, which depends on the Middle East for 90% of its crude oil imports," said Haguida, the minister for economy, trade and industry.

U.S. commercial crude oil inventories increased by 4.5 million barrels to 426.6 million barrels.

The boom in STS activity involving Russian crude came as Moscow's seaborne oil exports defied Western sanctions to hit post-pandemic highs of 4 million b/d in April 2022.