Gas and oil prices eased lower as the US and European Union signed a landmark deal to reduce the dependence of the EU on Russian gas.
The US said it will work with other friendly countries to deliver an additional 15bn cubic metres of liquified natural gas (LNG) this year to Europe.
US President Joe Biden added the US would try to supply a further 50bcm of LNG until at least 2030.
Biden made the pledge in a joint speech with European Commission President Ursula von der Leyen (read here).
The15 bcm of gas was a "big step" said von der Leyen as it will replace LNG currently supplied by Russia or around a third of its supplies to the EU.
A new task force was also unveiled at the meeting to find a long-term solution to the energy crisis afflicting Europe, which has already seen prices spike by 600% at their peak even before the Ukraine war.
Europe imports around 40% of its gas from Russia, but since the conflict, the EU has launched a campaign to boost its use of renewable energy to offset that requirement.
Earlier, Canada said it was going to boost oil and gas exports by 300,000 barrels per day to help nations wean themselves off Russian energy supplies.
Canada ranks fourth worldwide in terms of oil production after Russia, Saudi Arabia, and the US.
Crude today eased to around US$119 a barrel with gas at 260p a therm.