The U.S. Department of Energy will restart issuing new permits for exports of liquefied natural gas, reversing one of the most controversial decisions of the Biden administration that froze the process while it investigated the impact of LNG production and exports on the climate.
Oil ended the session slightly higher following a volatile day of trading as investors look for clues about Russia-Ukraine truce talks and a potential nuclear deal with Iran. Brent futures traded higher to settle near $65.50. West Texas Intermediate also rose.
Curious Minds Corner
How much crude oil does the world use every single day?
Global consumption hovers around 100 million barrels daily.