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Industry News from Energy Services

  • February 20th, 2023

Oil rises on China demand hopes, concerns on supply outlook

Oil prices rose on Monday amid optimism over China’s demand recovery, concerns that underinvestment will crimp future oil supply and as major producers keep output limits in place. ›

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  • February 17th, 2023

Oil heads for weekly loss on rate hike worries, ample supply

LONDON — Oil fell about 2% on Friday and was heading for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply. ›

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  • February 17th, 2023

European Gas Falls Below €50 as Historic Energy Crisis Recedes

European natural gas futures slumped below €50 for the first time in 17 months as the region’s worst energy crisis in decades recedes, but with signs that further price declines are unlikely. ›

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  • February 16th, 2023

Oil rises on China optimism, market shrugs off U.S. inventory build

Oil prices rose on Thursday as hopes of a robust fuel demand recovery in top oil consumer China offset losses arising from strength in the greenback and a large build in U.S. crude inventory. ›

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  • February 15th, 2023

Oil prices drop as U.S. inventories jump fuels demand worries

Oil prices extends losses on Wednesday as a much bigger-than-expected surge in the U.S. crude inventories and anticipation of further interest rate hikes sparked concerns over the prospect of weaker fuel demand and economic recession. ›

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  • February 14th, 2023

Gas: Prices flat on ample supply and low demand

Dutch and British wholesale gas prices were quite flat on Tuesday morning on ample supplies and low demand. ›

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  • February 14th, 2023

Oil prices fall on U.S. crude reserve release

Oil prices fell on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers, counter to expectations from some traders that the release could be cancelled or delayed. ›

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  • February 13th, 2023

European Gas Slides on Signs Worst of Energy Crisis Averted

European natural gas prices fell to the lowest level in almost four weeks as confidence grows for stable power generation through the remainder of winter. ›

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  • February 13th, 2023

Oil falls on demand worry as Fed ‘make or break moment’ approaches

Oil prices eased around 1% on Monday after rising in the previous session, as investors focused on short-term demand concerns stemming from crucial upcoming U.S. inflation data and refinery maintenance in Asia and the United States. ›

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  • February 10th, 2023

Europe Gas Heads for Weekly Loss on Mild Weather, LNG Outlook

European natural gas prices headed for a weekly loss as mild weather caps demand and a key LNG-export facility in the US prepares to resume some shipping. ›

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