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Industry News from Energy Services

  • March 18th, 2024

Oil prices build on last week’s strength as supply risks rise

Oil prices ticked up in Asian trade on Monday, extending gains from last week of nearly 4% on the view that supply was tightening, with the risks heightened by further attacks on Russian energy infrastructure. ›

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  • March 18th, 2024

European Gas Extends Rally With Focus on Global Energy Supply

European natural gas prices extended gains for a fourth day, the longest streak since the end of January, as traders focus on the fragility of global energy supplies. ›

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  • March 15th, 2024

Oil prices set to end week about 4% higher

Oil prices edged lower on Friday but were on track to gain nearly 4% for the week, boosted by the International Energy Agency revising its 2024 oil demand forecasts higher and an unexpected decline in U.S. stockpiles. ›

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  • March 14th, 2024

Oil rises on strong US fuel demand as supply concerns continue

Oil prices climbed in early trade on Thursday, supported by strong demand in the U.S. after gasoline stocks hit a three month low and crude stockpiles dropped unexpectedly, with supply concerns remaining after Ukrainian attacks on Russian refineries. ›

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  • March 13th, 2024

Softer spot LNG prices see demand gain, contrast with contract pain

Lower spot prices for liquefied natural gas (LNG) in Asia have yet to drive a significant boost in demand for the super-chilled fuel, although there is an increase in appetite from price-sensitive buyers such as India and China. ›

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  • March 13th, 2024

Oil higher on strong US demand, Fed policy in focus

Oil prices rose on Wednesday on expectations of strong global demand, including in the world’s top consumer the United States, while somewhat sticky U.S. inflation did not significantly alter expectations that the Fed might start cutting rates soon. ›

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  • March 12th, 2024

Oil up as Middle East tensions persist, demand concerns cap gains

Oil prices rose in Tuesday trade as geopolitical tensions in the Middle East continued to spur concern, but gains were limited on bearish demand sentiment and as the market waited for monthly reports from oil agencies.. ›

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  • March 11th, 2024

Oil prices fall on China demand worries

Oil prices extended last week’s losses on Monday on concern about slow demand in China, although lingering geopolitical risk surrounding the Middle East and Russia limited the decline. ›

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  • March 8th, 2024

Oil prices rise as world’s top consumers boost demand

Oil prices rose on Friday, driven by growing demand in the world’s biggest consumers, the United States and China, while the U.S. Federal Reserve gave a positive signal on the possibility of rate cuts. ›

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  • March 6th, 2024

Oil rebounds as OPEC+ output cuts override China, US demand concerns

Oil prices rebounded slightly on Wednesday after extended declines as signs of supply tightness amid output cuts by major producers overrode demand growth concerns in China and the U.S., the world’s two biggest crude consumers. ›

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