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Industry News from Energy Services

  • June 8th, 2023

Europe’s Gas Prices Show Shift in Risk to Winter Next Year

The spread between Europe’s natural gas prices for this winter and next is widening, signaling near-term risks are easing but greater uncertainty ahead. ›

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  • June 8th, 2023

Oil steadies as Saudi cut supports and focus turns to Fed

Oil steadied on Thursday as tighter supply resulting from Saudi Arabia’s pledged production cut and a potential pause to U.S. interest rate hikes offset worries over demand weakness and a global economic slowdown ›

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  • June 7th, 2023

Oil extends losses as economic slowdown concerns return

Oil fell for a second day on Wednesday as concerns over global economic headwinds deepened, erasing the price gains booked after top crude exporter Saudi Arabia’s surprise weekend pledge to deepen output cuts. ›

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  • June 6th, 2023

Gas: Prices correct lower after Monday’s price surge

Wholesale Dutch and British natural gas prices eased on Tuesday morning, after strong gains in the previous session led by concerns about growing competition for liquefied natural gas (LNG) supply and despite comfortable storage levels. ›

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  • June 6th, 2023

Oil falls as global economic backdrop outweighs Saudi output cut

Oil prices edged lower early on Tuesday, coming off gains made the previous day as concerns about the global economic backdrop outweighed supply worries raised when Saudi Arabia announced its biggest output cut in years. ›

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  • June 5th, 2023

European Natural Gas Prices Jump as LNG Market Shows Signs of Tightening

European gas futures jumped 20%, the biggest jump since March amid signs of a tighter liquefied natural gas market and potentially stronger Asian demand for the fuel. ›

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  • June 5th, 2023

Oil up $1 on Saudi plan to deepen output cuts from July

Oil prices were up $1 a barrel on Monday after top global exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July, counteracting the macroeconomic headwinds that have depressed markets. ›

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  • June 2nd, 2023

US oil and gas output still rising in response to high prices last year

U.S. oil and gas production continued to rise strongly in March – the delayed impact of very high prices that prevailed until the third quarter of 2022. ›

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  • June 2nd, 2023

Oil prices rise after U.S. debt deal, all eyes on OPEC meeting

Oil prices rose on Friday after a U.S. debt ceiling deal averted a default in the world’s biggest oil consumer, while attention turned to a meeting of OPEC ministers and their allies at the weekend. ›

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  • June 1st, 2023

Asian Gas Premium Puts Europe in Competiton for LNG This Summer

Spot prices for liquefied natural gas in Asia are trading at a consistent premium over the European benchmark for the rest of this year, signaling that competition for the fuel could tighten if demand rebounds. ›

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