the risk of oil prices heading well above $70/b to the oil market and the global economy, while also saying that if prices were too low it would hit investment in the industry and key oil producing countries.

China is resolutely opposed to the United States enforcing unilateral sanctions or “long armed jurisdiction”, Geng Shuang, a ministry spokesman, told a daily news briefing.

As the BRENT surges past 73$/barrel, it's expected that Brent trades at a premium with regards to the Brent-Dubai Spread Chart.

Oil futures settled at fresh six-month highs Monday as the market looked at an increasingly tight global supply picture in light of the White House decision. ICE June Brent settled up $2.07/b at $74.04/b, and NYMEX May WTI settled $1.70/b higher at $65.70/b. Monday marked the highest front-month settle for both contracts since late October, just before the US sanctions snapped back.

Green hydrogen can in principle be shipped around the world to places that are less well endowed with cheap renewable energy sources.

Oil prices rallied by about 3 percent on Monday to their highest since late 2018 as the United States was set to announce that all imports of Iranian oil must end or be subject to sanctions.

"Cooperation will continue between Russia and Saudi Arabia," Ibrahim al-Muhanna said at the International Oil Summit in Paris, stressing that "it is the core of OPEC+ cooperation."

Oil futures edged up on Thursday as a drop in crude exports from OPEC’s de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices.

Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world’s second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly.

On BRENT ;The Bulls are still gathering through the 71.72$ price mark. A hold of the 63.45$ price mark indicates a strong bull market in the June WTI Futures market,a fall below creates a range bound trade.

МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 марта года по 14 апреля 2019 года составила $69,02619 за баррель, или $ 503,9 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 мая 2019 года повысится на $7,2 и составит $104,6 за тонну.

The rules governing the EU's internal gas market will in future also apply to pipelines to and from third countries. The Council today formally adopted an amendment to the so-called gas directive which aims at closing a legal gap in the EU's regulatory framework and boosting competition in the gas market. This is the final step in the legislative process.

Oil prices nudged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, with investors eyeing mixed signals on global supply.

Iranian Minister of Petroleum Bijan Zangeneh said the current crude oil market was in a fragile state, adding, “If the US decided to exert more pressure on Iran, the oil market would become unpredictably more fragile.”

Oil prices edged up on Friday, lifted by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela.