Brent dipped 63 cents, or 0.8%, to $80.96 a barrel, WTI was down 69 cents, or 0.9%, at $75.03.

Prior to the sanctions, between October 2021 and September 2022, diesel imports from Russia made up 53% of Northwest Europe’s seaborne imports.

The Brent crude oil spot price will fall from an average of $84/b in the second quarter of 2023 (2Q23) to $81/b in 4Q23 and then average $78/b in 2024.

U.S. commercial crude oil inventories decreased by 1.7 million barrels to 478.5 million barrels.

Brent dipped 18 cents, or 0.2%, to $84.57 a barrel , WTI were down 16 cents, also 0.2%, at $78.00 a barrel.

The EU banned imports of Russian oil products from Feb. 5, two months after imposing restrictions on seaborne crude shipments from the country.

After excluding 7 bids due to formal errors, the regulator selected 119 proposals with prices ranging between €7.24c/kWh and the maximum permissible value of €7.35c/kWh. The volume-weighted average reached €7.34c/kWh (+25% compared to the previous round).

Brent rose 45 cents, 0.5%, to $83.90 a barrel, WTI gained 42 cents, or 0.6%, to $77.47 a barrel.

Brent were down 30 cents, or 0.36%, at $82.86 a barrel, WTI traded at $76.09 a barrel.

At the same time, Russian LNG imports into the EU rose by around a third to 14.1 million mt (19 Bcm), but it was LNG from other sources -- the US in particular -- that helped fill some of the gap left by lost Russian gas.

Even though Europe has significantly cut its reliance on Russian gas, a lot of the storage that they used to cut the reliance was actually Russian gas from the past.

Brent fell 30 cents to $82.75 a barrel, WTI dropped by 38 cents to $75.98 a barrel.

Angola is among the hardest hit at the moment, with daily exports to China falling 27% so far this month compared with whole of February last year.

Overall gas use in the 27-nation European Union plunged by 19.3% from August to January compared with the five-year average for the same period,

You can't invest in Natural Gas on a daily basis, Its too volatile, but if you think of Natural Gas a long-term holding, then you push your profit horizon out.