Russia's Gazprom on June 16 cut gas supplies via the Nord Stream pipeline to Germany to just 40% of capacity, citing maintenance issues with gas turbines at the key Portovaya compressor station.

U.S. Rig Count is up 2 from last week to 752, Canada Rig Count is up 9 from last week to 175.

Brent rose 35 cents, or 0.3%, to $105.00 a barrel, WTI gained 19 cents, or 0.2%, to $102.92.

Dutch front-month gas, the European benchmark, fell as much as 10%, and was 6.4% lower at 171.49 euros per megawatt-hour at 9:49 a.m. in Amsterdam. The contract has doubled over the past month. The UK equivalent declined 6.2%, but was also heading for a weekly gain.

Combined, OPEC+ crude production rose to a three-month high of 42.09 million b/d of June,

The UK's gas storage capacity is tiny when compared with most of Europe. The UK has just 0.9 Bcm of gas storage relative to around 80 Bcm of annual consumption, compared with Europe which has roughly 105 Bcm of gas storage, equal to 22% of annual utilization, according to industry body Offshore Energy UK.

Brent rose 16 cents, or 0.2%, to $100.85 a barrel, WTI climbed 18 cents, or 0.2%, to $98.71 a barrel.

Dutch front-month gas, the European benchmark, traded 3.5% higher at 177 euros per megawatt-hour at 8:43 a.m. in Amsterdam.

The oil ministry said June 29 that India would allow operators to sell locally-produced crude in the domestic market without restrictions from Oct. 1, but restrictions on exporting locally-produced crude would remain.

The European Commission has approved a €5bn French scheme to support energy-intensive companies that have been particularly hit by the recent increase in energy prices.

Brent rose as much as $3.08, or 2.9%, to $105.85 a barrel, WTI climbed to a session high of $102.14 a barrel.

China spent $18.9 billion on Russian oil, gas and coal in the three months to the end of May, almost double the amount a year earlier, latest customs data show. Meanwhile, India shelled out $5.1 billion in the same period, more than five times the value of a year ago.

Brent fell by 60 cents, or 0.5%, to $112.89 a barrel, WTI climbed $1.13, or 1.1%, to $109.58 a barrel.

Coal poured into the Antwerp-Rotterdam-Amsterdam region -- a huge transport hub for energy and commodities -- in the first half of this year

European energy markets are in turmoil with Russia’s supplies at multiyear lows, coupled with intense competition for liquefied natural gas with Asia