Read more at: UK warns of Russia attempts to provoke new conflict in Bosnia

WTI crude futures jumped more than 2% toward $118 per barrel on Tuesday, hitting its highest since March 9, after EU leaders reached an agreement to ban 90% of Russian crude by the end of 2022, fueling concerns of an even tighter global market. The agreement resolves a deadlock with Hungary over the bloc’s toughest sanction yet on Moscow and would clear the way for other elements of a sixth package, including cutting Russia’s biggest bank from the SWIFT messaging system. However, some analysts suggested that oil price gains may be muted as the move has already been priced in by the markets.

On the production side, OPEC+ is set to stick to its policy of modest output increases at its meeting on Thursday, rejecting western calls for faster production to lower prices. 

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Natural gas increased 4.98 USD/MMBtu or 133.54% since the beginning of 2022, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Prices are slated to rise further in the coming weeks. 

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Vanguard refuses to stop fossil fuel investments, calling out its duty to maximise returns. They also do not want to aggravate an already grave pensions crisis. 

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Vanguard refuses to end new fossil fuel investments

India's first wind-solar hybrid power plant has been commissioned by Adani Green in Rajasthan. AHEJOL, a subsidiary of Adani Green Energy Limited (AGEL), has commissioned the 390 MW hybrid power plant in Jaisalmer. Integrated through solar and wind power generation, the plant harnesses the full potential of renewable energy. 

“The commissioning of our hybrid plant is an incremental step towards meeting India’s sustainable energy goals. We are extremely proud of the unrelenting effort our team has put in to deliver India’s first wind-solar hybrid plant. This project is a part of the first construction facility by international banks in Adani Green,” he added. 

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India's first hybrid power plant commissioned by Adani Green in Rajasthan 

At a time that global oil markets are worried about a demand-supply crunch, especially when looking at low spare production capacity and divestments of IOCs, Abu Dhabi’s oil and gas giant ADNOC once again is showing its future power. 

Earlier this year, ADNOC reported natural gas finds together with ENI. And then ADNOC reported 3 high-grade crude oil discoveries in onshore concessions.

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Slew Of New Discoveries Brings UAE Closer To Production Goals

Indonesia lifts ban on palm oil exports. This was quite expected considering the impact the ban could have had on its farmers.

Analysts say the U.K.'s new 25% windfall tax on profits from oil and gas production will barely hurt integrated energy majors such as BP and Shell, but will impact smaller North Sea producers that earn all of their revenue in the U.K. 

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Oil majors little hurt by U.K. windfall tax but energy transition plans at risk

It would be the first time since 2015 that Coal India has imported the fuel, highlighting efforts by state and federal officials to stock up to avoid a repeat of April, when India faced its worst power cuts in more than six years. 

To end injunctions that kept 2021 natural gas prices with distributors stable, Petrobras is offering to maintain those gas prices in exchange for longer term contracts. 

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Market Talks: The longer term Petrobras contracts with distributors 

Technip Energies and Samsung Engineering have been awarded a pre-Final Investment Decision engineering contract for a four million tonnes per annum LNG project in Brownsville, Texas.