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Industry News from Energy Services

  • February 19th, 2024

Oil drops as sticky US inflation heightens demand concerns

Oil prices fell as investor attention returned to the demand outlook after reports of higher producer prices in the U.S., the world’s biggest oil user, stoked worries that sticky inflation and higher interest rates would limit fuel consumption growth. ›

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  • February 16th, 2024

Oil flat as weaker IEA outlook weighs on US rate cut hopes

Oil prices stalled on Friday over a forecast of slowing demand by the International Energy Agency after gaining in the previous session on weak U.S. retail sales data that sparked optimism that the Fed might cut interest rates sooner than expected. ›

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  • February 15th, 2024

Oil slips after large US crude stock build

Oil prices fell on Thursday after a larger-than-expected jump in U.S. crude inventories raised doubts about the strength of demand in the world’s largest economy and top oil consumer. ›

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  • February 14th, 2024

Oil rises as producers forecast demand growth, U.S. fuel stockpiles drop

Oil prices rose on Wednesday, reversing earlier losses, as major producer group OPEC kept to their relatively strong forecast for demand growth this year and an industry report showed a sharp decline in U.S. fuel stockpiles amid a refinery outage. ›

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  • February 13th, 2024

Europe Gas Approaches Oversold Levels as Demand Set to Recover

European natural gas futures rebounded on Tuesday after approaching technical levels that signal the contracts have been oversold. ›

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  • February 13th, 2024

Oil prices edge up on Middle East risk

Oil prices rose on Tuesday on fears Middle East tensions could disrupt supply, but uncertainty about the pace of potential U.S. interest rate cuts and the ensuing impact on fuel demand capped gains. ›

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  • February 12th, 2024

Oil begins week lower after Israel says ‘concluded’ Gaza strikes

Oil prices fell in early Asian trade on Monday after Israel said it had “concluded” a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East. ›

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  • February 9th, 2024

Oil heads for weekly gains after Israel rejects ceasefire offer

Oil prices were little changed on Friday, staying on track for weekly gains, with tensions persisting in the Middle East after Israel rejected a ceasefire offer from Hamas. ›

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  • February 8th, 2024

Oil rises on slim progress in Gaza peace talks, weaker dollar

Oil extended gains on Thursday after Israel rejected a ceasefire offer from Hamas, while a weaker dollar also supported prices. ›

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  • February 7th, 2024

Oil rises on lower-than-expected rise in U.S. crude stockpiles

Oil prices rose for a third day on Wednesday after industry data showing U.S. crude inventories grew less than expected and a cut in the forecast for output growth in the U.S., the world’s biggest producer, eased concerns about potential oversupply. ›

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