Shipments of Russian crude to the US in 2021 averaged 202,000 b/d, the highest in 11 years. Most of these imports consist of Russian export grades, such as Urals, ESPO Blend and Varandey.

The agreement between Iran and world powers lifted sanctions against Tehran in exchange for restrictions on its atomic activities.

U.S. Rig Count is up 3 from last week to 604, Canada Rig Count is up 21 from last week to 212.

“Fusion energy has the potential to produce a stable, reliable and low-carbon power source that could be critical in a decarbonised energy future. Our involvement will bring together the best of UK and international expertise to solve the challenges associated with fusion energy,”

The exchange between the public and private sector industry experts in Canada and the UAE provided an unprecedented opportunity to discuss the recent developments, challenges, and opportunities in hydrogen and decarbonisation in Canada, the UAE, and wider MENA region, and to forge future partnerships.

U.S. commercial crude oil inventories increased by 0.5 million barrels from the previous week to 413.8 million barrels.

While US gas production was largely unchanged in the 2020 to 2021 new year, production declines of varying magnitudes and durations were recorded over at least the five new year's prior, dating back to the 2015-2016 winter season.

Canada’s current energy and economic profile presents both challenges and opportunities in achieving these targets given its profile as a major producer, consumer and exporter of energy, and its northern climate.

Canada’s General Fusion announced that it had achieved several aggressive performance goals of a prototype system for its Fusion Demonstration Plant (FDP).

The transition, to be spread over 30 years, will hit Canada's economic growth as demand and prices for commodities fall, leading to less inflationary pressure and a need for more stimulative monetary policy, the Bank of Canada and the Office of the Superintendent of Financial Institutions said.

U.S. Rig Count is up 13 from last week to 601, Canada Rig Count is up 50 from last week to 191.

Efforts to impose sanctions on the Nord Stream 2, an undersea gas pipeline from Russia to Germany that would give Moscow enormous leverage over Europe, have long drawn bipartisan support on Capitol Hill,

U.S. commercial crude oil inventories decreased by 4.6 million barrels from the previous week to 413.3 million barrels.

The Henry Hub prompt-month contract soared 60.80 cents to settle at $4.857/MMBtu Jan. 12, which is the highest price for a prompt-month contract since Nov. 26.

The country aims to instal 30 GW of offshore wind by 2030.