Amid geopolitical tensions, the EU is successfully diversifying its gas supply, reducing its reliance on Russia and increasing imports from other countries.
Brent crude oil futures fell 68 cents, or 0.8%, to $85.19 a barrel by 11:07 a.m. ET (1507 GMT). U.S. West Texas Intermediate crude futures were 67 cents, or 0.8%, lower at $83.55. At their session lows, both benchmarks were down more than $1.
Petroleum and natural gas minister Hardeep Singh Puri has urged the Organization of the Petroleum Exporting Countries to show sensitivity to oil consuming-nations and curb output cuts.