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Industry News from Energy Services

  • March 31st, 2021

Oil prices gain on expectations OPEC+ will keep lid on output

Oil prices rose on the eve of meeting between OPEC and its allies, as investors were betting the producers would largely agree to extend their supply curbs into May.

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  • March 30th, 2021

Oil gains as focus switches to OPEC+ extending output cuts

Oil prices rose on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and focus turned to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns.

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  • March 29th, 2021

Oil slumps as Suez Canal container ship starts to move

Oil slumped more than 2% on Monday after news from the Suez Canal that salvage crews have managed to move the giant container ship that has been clogging up the vital global trade passage for nearly a week.

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  • March 26th, 2021

UK GAS-Prices rise on expected LNG cargo delays through Suez Canal

British wholesale gas prices rose on Friday morning as delays in liquefied natural gas (LNG) cargo arrivals were expected due to a blockage in the Suez Canal.

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  • March 26th, 2021

Oil prices rise 2% on fears Suez blockage may last weeks

Oil prices reversed a sharp sell-off a day earlier to rise about 2% on Friday on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.

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  • March 25th, 2021

Oil falls as demand concerns trump Suez Canal disruptions

Oil prices fell more than 2% as fresh coronavirus lockdowns revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil carriers in the Suez Canal.

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  • March 24th, 2021

UK GAS-Prices rise on colder weather, Suez Canal ship diversions

British wholesale gas prices rose on Wednesday morning on colder weather and diversions in the Suez Canal which could slow liquefied natural gas (LNG) arrivals.

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  • March 24th, 2021

Oil rises as Suez Canal ship runs aground, European lockdowns weigh

Oil rose more than 1% on Wednesday after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains.

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  • March 23rd, 2021

Oil falls as European coronavirus curbs point to demand hit

Oil prices fell 1% on Tuesday, hit by concerns that new pandemic curbs and slow vaccine rollouts in Europe will slow a recovery in demand, while producers cut prices in a sign of plentiful supply.

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  • March 22nd, 2021

UK GAS-Prices mixed as wind caps demand, supply drops

British wholesale gas prices were mixed on Monday morning, with lower supplies of Norwegian gas and liquefied natural gas (LNG) offset by expectations that rising wind output would curb demand from the power sector.

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