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Industry News from Energy Services

  • August 4th, 2023

Gas: Prices fall as strong renewable generation dents demand

British and Dutch gas prices fell on Friday morning as expectations of strong output from wind farms curbed demand for gas from power stations. ›

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  • August 4th, 2023

Oil prices set for sixth weekly gain on pledged output cuts

Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world’s second and third-largest crude producers, pledged to cut output through next month. ›

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  • August 3rd, 2023

Gas: Prices rise on increased demand for power, weaker supply

British and Dutch wholesale gas prices rose on Thursday morning as demand from power stations ramped up amid weaker wind power output and as an extension at Norwegian gas infrastructure curbed supply. ›

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  • August 3rd, 2023

Oil steady as supply concerns offset US ratings downgrade

Oil prices were little changed on Thursday after a two-day decline, including a sharp drop on Wednesday, as a U.S. government credit downgrade weighed on sentiment, though concerns around supply tightness provided some support. ›

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  • August 2nd, 2023

Oil prices rise 1% as US inventory data reflect robust demand

Oil prices surged by almost 1% on Wednesday, trading near their highest since April, as crude and fuel product inventory data showing robust demand from the world’s biggest fuel consumer, the U.S., offsetting demand concerns elsewhere. ›

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  • August 1st, 2023

Europe Gas Prices Extend Gains as Risks Outweigh Rising Storage

European natural gas prices rose for a second session as supply risks and uncertainty about the upcoming winter outweighed rising storage levels. ›

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  • August 1st, 2023

Oil holds near three-month high on signs of tightening supply

Oil prices slipped on Tuesday but were still near a three-month high reached in the previous session on signs of tightening global supply, as producers implement output cuts, and strong demand in the United States, the world’s biggest fuel consumer. ›

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  • July 31st, 2023

European Gas Prices Poised to Erase About 25% of Value in July

European natural gas is set for one of its biggest monthly drops this year as depressed industrial activity and strong inventories offset concerns about a spike in summer cooling demand. ›

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  • July 31st, 2023

Oil on track for biggest monthly gains in over a year

Oil prices edged lower on Monday, but were hovering near three-month highs and were set to post their biggest monthly gains in more than a year on expectations that Saudi Arabia would extend voluntary output cuts into September and tighten global supply. ›

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  • July 28th, 2023

European Gas Falls With Sluggish Demand Keeping a Lid on Prices

European natural gas prices are headed for a third consecutive day of declines, with Citigroup Inc. analysts seeing sluggish demand and high inventories keeping a lid on prices. ›

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