#WTI lost 10 cents to trade around $68/bbl but is down 10% for the week due to banking turmoil.
#Crude prices reached their lowest levels in over a year, with Prompt WTI and Brent hitting their respective lows of $65.65/bbl and $71.67/bbl before recovering some of their losses.
The market is expecting an #OPEC+ response following a meeting between #SaudiArabia and #Russian officials to "promote market balance and stability."
The #US won't rush to fill the petroleum reserve, according to Amos Hochstein, the Special Presidential Coordinator for Global Infrastructure and Energy Security.
The #SPR is currently at 371.6 MMBbl, the #lowest level since the 1980s, as a result of the 180 MMBbl release last year to tame gasoline prices.
The #G7 intends to maintain its $60/bbl #pricecap on #Russian oil #exports despite requests from several European states to lower the cap.
#Natgas prices are #down 4% due to warmer #weather forecasts.
#Repsol #canceled its plans for a Canadian #LNG project due to the cost of shipping gas to Canada's east coast being too high for the project to be economical.
The #California #PublicUtilitiesCommission is investigating the cause of high winter natural gas prices and is looking for ways to #mitigate #volatility.
