Up until now, Europe has not announced an energy emergency plan. However, the latest figures show that Europe's gas storage capacity is only 26% full.

U.S. commercial crude oil inventories increased by 2.4 million barrels to 412.4 million barrels.

Brent climbed $1.05 or 1.%, to $102.12 a barrel, WTI rose 86 cents, or 0.9%, to $97.09 a barrel.

The price of OPEC basket of thirteen crudes stood at $106.13 a barrel

Brent were up 49 cents, or 0.5%, at $107.13 a barrel , WTI climbed 21 cents, or 0.2%, to $102.17 a barrel.

The price of OPEC basket of thirteen crudes stood at $106.23 a barrel

The new round includes an import ban on coal from Russia worth Eur4 billion/year ($4.38 billion/year) and a ban on Russian vessels and Russian-operated vessels from accessing EU ports, allowing for certain exemptions such as agricultural and food products, humanitarian aid as well as energy.

Gazprom said the request for gas exports to Europe through Ukraine had been set at 108.3 million cubic metres for April 6, similar to the request for April 5.

Iranian Minister of Petroleum Javad Owji said the current capacity of oil production in Iran has exceeded 3.8 million barrels per day, reaching the pre-sanctions levels.

Brent was up $1.17, or 1.1%, to $108.70 a barrel, WTI was up $1.15, or 1.1%, at $104.43.

While the US has already banned imports of Russian oil, gas and coal, it could escalate energy pressure through secondary sanctions on other countries that continue to import the supplies.

Brent was up 63 cents, or 0.6%, to $105.02 a barrel , WTI gained $1.08, or 1.1%, to $100.35.

The price of OPEC basket of thirteen crudes stood at $107.74 a barrel

Europe's largest economy is heavily dependent upon Russia for energy, and nations banks echoed concerns over possible energy disruption expressed by big names in industry in recent days.

The first 90 million barrels will be released between May and July, through two notices of sale totaling 70 million barrels, and 20 million barrels already scheduled to be released in May 2022.