Energy & Petroleum News Today

US West Texas Intermediate crude futures rose 18 cents to $79.30 a barrel by 1224 GMT. Brent crude futures gained 19 cents, reaching $83.55 a barrel. MCX Crude Oil prices opened at 6623 with a rise of 0.44%.

US natural gas prices remained stable as increased demand predictions for the upcoming week balanced the surge in production over the weekend.

Anticipations rise for OPEC's Monthly Oil Market Report due Tuesday, influencing oil prices. The report's outlook has significant market implications.

Brent Crude trades below $83 per barrel, West Texas Intermediate above $78, down 1% due to increased gasoline, distillate inventories. Analysts anticipate delay in rate cuts, amid fuel demand slowdown and interest rate pessimism.

Brent crude futures slid 25 cents, or 0.3 percent, to $82.54 a barrel by 8:05 a.m. Saudi time, while US West Texas Intermediate crude futures were at $78.07 a barrel, down 19 cents, or 0.2 percent. MCX Crude oil prices open at 6538 with a fall of 0.20%.

Brent futures rose 37 cents, or 0.4%, to $84.24 a barrel, while U.S. West Texas Intermediate crude grew 41 cents, or 0.5%, to $79.64 at 0003 GMT. MCX Crude Oil prices opened at 6673 with a rise of 1.01%.

Global predicts Canadian oil sands production to reach 3.8 million barrels per day by 2030, marking a 15% boost from current output due to optimization advancements.

Gazprom, Russia's gas giant, maintains its gas shipments to Europe through Ukraine, with Thursday's volume reaching 42.4 million cubic metres, as reported by the company.

This year, renewable energy is poised to surpass fossil fuels in the global electricity market, with China leading the charge. Despite challenges, renewables offer economic benefits and a pathway to a sustainable future.

Brent crude futures for July rose 31 cents, or 0.4%, to $83.89 a barrel by 0533 GMT. U.S. West Texas Intermediate crude for June was up 39 cents, or 0.5% to $79.38 per barrel. MCX Crude oil prices opened at 6626 with a gain of 0.59%.