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Industry News from Energy Services

  • July 6th, 2023

Oil dips as China demand fears offset tighter supply outlook

Oil prices slipped in Asian trade on Thursday as fears of a sluggish demand recovery in the world’s top crude importer China offset the prospect of tighter supply, with top exporters Saudi Arabia and Russia cutting output. ›

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  • July 5th, 2023

Gas: Prices mixed as markets weighs supply-demand balance

British and Dutch gas prices were mixed on Wednesday morning due to rises in Norwegian pipeline supplies after maintenance, slower arrivals of liquefied natural gas (LNG) and lacklustre demand. ›

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  • July 5th, 2023

Brent drops as economic headwinds outweigh supply cuts

Oil benchmark Brent fell on Wednesday, reversing some of the gains made after Saudi Arabia and Russia announced they would extend and deepen output cuts into August, as concerns over a global economic slowdown weighed on market sentiment. ›

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  • July 4th, 2023

Gas: Prices fall on higher renewables output, Norwegian supply

British and Dutch gas prices fell on Tuesday morning on expectations that maintenance outages due to end at some Norwegian infrastructure would boost supply and as strong renewables output curbed gas demand for power. ›

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  • July 4th, 2023

Oil rises as markets weigh supply cuts against uncertain economic outlook

Oil prices rose on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against the backdrop of an uncertain global economic outlook. ›

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  • July 3rd, 2023

Gas: Prices rise on lower LNG supply and expected hot spell

Dutch and British wholesale gas prices rose on Monday morning, driven by concerns over supply as well as rising demand from the power sector, with expected hot weather likely to result increased use of air conditioning. ›

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  • July 3rd, 2023

Oil prices ease on fears of weaker demand

Oil prices fell on Monday as concerns about a global economic slowdown and possible further interest rate hikes from the U.S. Federal Reserve weighed on prices, offsetting forecasts of tighter supplies amid OPEC+ cuts.

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  • June 30th, 2023

Europe Gas Set for Biggest Monthly Gain in a Year on Volatility

European natural gas is set for its biggest monthly gain since last summer, near the height of the region’s energy crisis, following the most volatile stretch for trading this year. ›

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  • June 30th, 2023

Oil heads for first monthly gain this year as supply tightens

Oil prices stayed steady on Friday with Brent poised for its first monthly gain this year, as a big drawdown in U.S. oil stocks outweighed concerns that fuel demand will be dented further by more interest rate rises. ›

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  • June 29th, 2023

Oil prices fall on concerns of slow fuel demand, weak China data

Oil prices fell on Thursday, paring some of the previous day’s gains, as investors took profits on concerns of further interest rate hikes dampening economic growth and global fuel demand while weak economic data in China also weighed on sentiment. ›

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