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Industry News from Energy Services

  • February 10th, 2023

Oil prices jump more than 2% on Russian plan to cut output

Oil prices jumped more than 2% on Friday, heading for weekly gains, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s oil and oil products. ›

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  • February 8th, 2023

Oil nudges higher on weaker dollar, traders await more inventory data

Oil prices extended their two-day winning streak on Wednesday, posting slight gains as the dollar weakened, while investors awaited more inventory data for clearer cues on demand trends. ›

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  • February 7th, 2023

European Gas Slips on Ample Stockpiles, Milder Weather Outlook

European natural gas slipped with the end of a short-lived cold spell in sight while healthy stockpiles are helping tackle any boost in demand. ›

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  • February 7th, 2023

Oil rises on China outlook, supply worries after Turkey earthquake

Oil prices rose for a second straight session on Tuesday, driven by optimism about recovering demand in China, and concerns over supply shortages following the shutdown of a major export terminal after an earthquake in Turkey. ›

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  • February 6th, 2023

Gas: Prices dip as healthy supply compensates for demand uptick

British and Dutch wholesale gas prices mostly dipped on Monday morning as healthy supply compensated for higher demand due colder temperatures and weak wind output. ›

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  • February 6th, 2023

Oil prices edge up as IEA’s Birol talks up China demand outlook

Oil prices inched up on Monday after falling 8% last week to more than three-week lows as concerns that slower growth in major economies may limit fuel consumption outweighed signs of a demand recovery in China, the world’s top oil importer. ›

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  • February 3rd, 2023

Gas: Prices fall on higher imports, stronger wind

British and Dutch wholesale gas prices fell on Friday morning as high wind speeds reduced demand for gas for power generation and imports into the region remained strong. ›

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  • February 3rd, 2023

Oil weakens as market awaits signs of China demand recovery

Oil prices eased on Friday, with major benchmarks headed for their second straight week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. ›

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  • February 2nd, 2023

European Gas Prices Mixed With Focus on Demand, LNG Shipments

European gas futures fluctuated as traders weighed ample stockpiles and progress on restarting a long-shut US liquefied natural gas plant against risks that demand may start picking up again. ›

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  • February 2nd, 2023

Oil steady as dollar slumps and Russian oil products ban looms

Oil prices were steady on Thursday after tumbling in the previous session as a weaker dollar boosted sentiment, though looming sanctions on Russian oil products added uncertainty over supply. ›

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