Brent rose 94 cents, or 1.0%, to $100.04 a barrel, WTI rose 63 cents, or 0.7%, to $96.41 a barrel.

During the past 12 months (July 2021–June 2022), the monthly average Henry Hub natural gas spot price, which is a U.S. benchmark, nearly doubled

U.S. commercial crude oil inventories increased by 3.3 million barrels to 427.1 million barrels.

Brent were down 18 cents to $99.39 a barrel, WTI was at $95.84 a barrel, down 43 cents.

Brent was up 73 cents, or 0.7%, at $100.22 a barrel, WTI gained 68 cents, or 0.7%, to $96.52.

The spot price of Brent crude oil averaged $71 per barrel (b) in 2021, and we forecast the Brent price will average $104/b in 2022 and $94/b in 2023.

Total oil demand is projected to average 100.3 mb/d. For 2023, world oil demand growth is expected to reach 2.7 mb/d to average 103.0 mb/d.

Brent fell $1.29, or 1.2%, to $105.73 a barrel, WTI declined by $1.78, or 1.7%, to $103.01.

Europe’s energy industry has been plunged further into turmoil since Russia deepened its supply cuts last month.

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.