Europe is engulfed in an energy crisis fanned by limited supplies from Russia, as well as increased demand amid recovery from the pandemic and a hot and dry summer that has increased the need for cooling.

Brent fell 36 cents, or 0.4%, to $96.23 a barrel, WTI was at $90.29 a barrel, down 21 cents.

There is no indication that such orderly liquidations would be offset by orderly installation of replacement facilities,

U.S. Rig Count is down 1 from last week to 762, Canada Rig Count is unchanged from last week at 201

Preliminary production figures for July 2022 show an average daily production of 1 876 000 barrels of oil, NGL and condensate.

Рассмотрен ход подготовки проекта международного договора о формировании общего рынка газа Евразийского экономического союза.

Subsoil use contracts are agreements with the Kazakh government covering the production of uranium by in-situ leach methods.

Benchmark futures rose as much as 16%, also driving up electricity prices to fresh records. The key Nord Stream pipeline will stop for three days of maintenance on Aug. 31, again raising concerns that the link won’t return to service as planned after the works.

Brent fell $1.60, or 1.6%, to $95.12 a barrel, WTI were down $1.56, or 1.7%, at $89.21 a barrel.

Eni announces a significant gas discovery in the Cronos-1 well drilled in Block 6, 160 km off Cyprus coastline, in 2,287 metres of water depth.

Russian gas company Gazprom has announced it will halt gas supplies to Europe via the Nord Stream 1 pipeline from 31 August to 2 September 2022, quoting maintenance issues for the pipeline’s only remaining compressor.

Russia’s Gazprom will halt flows on its key Nord Stream gas pipeline for three days of repairs on Aug. 31, again raising concerns it won’t return after the work.

Russia is now China’s top supplier of the fuel, supplanting Indonesia after the Southeast Asian nation deterred buyers by raising prices.

Brent fell $1.60, or 1.6%, to $95.12 a barrel, WTI were down $1.56, or 1.7%, at $89.21 a barrel.

The price of OPEC basket of thirteen crudes stood at $99.66 a barrel

Fennovoima said its claims currently total almost EUR2 billion (USD2 billion), while Rosatom said it is seeking USD3 billion from Fennovoima.

Iranian oil production has held at 2.58 million b/d for the four months through July,

Since then, the public has been skeptical about nuclear power and Japan has made strict safety updates at plants throughout the country.

UK was facing a “catastrophic winter”, telling the BBC that half of all households could fall into fuel poverty without intervention.

The EU’s sixth round of sanctions over the invasion of Ukraine includes a ban on Russian oil, as well as the use by third countries of the bloc’s companies for insurance and financial services.