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Industry News from Energy Services

  • March 6th, 2023

Oil down on China outlook, spotlight on Powell testimony

il prices slipped on Monday after China set a lower-than-expected target for economic growth this year at around 5%, and as investors cautiously awaited U.S. Federal Reserve Chair Jerome Powell’s testimony this week. ›

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  • March 3rd, 2023

Oil set for weekly gain as China demand optimism trumps recession fears

Oil prices fell on Friday, but were poised for a weekly gain as renewed optimism on China’s demand recovery overrode recession worries brought by growing crude inventories in the U.S. and tightening monetary policy in Europe. ›

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  • March 2nd, 2023

Oil prices slip as global demand concerns weigh

Oil slipped on Thursday on worries about rising U.S. crude inventories and concerns about more rate hikes in Europe potentially hitting growth, paring this week’s gains on signs of a strong economic rebound in China. ›

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  • March 1st, 2023

Gas: Prices rise on cold weather forecast, further upside seen limited

British and Dutch gas prices rose on Wednesday morning as cold weather forecasts raises demand for heating; however, further upside is seen limited due to healthy inventories and strong flows of liquefied natural gas (LNG). ›

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  • March 1st, 2023

Oil prices rise as China factory bounce boosts demand outlook

Oil prices extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world’s top crude importer, boosted the outlook for global fuel demand. ›

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  • February 28th, 2023

European Gas Prices Recede Following Record Demand Cut

Natural gas prices in Europe have already lost nearly 40% in the first two months of the year after Europeans saved the fuel like never before in history. ›

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  • February 28th, 2023

Oil firms on China growth hopes

Oil prices rose in Asian trade on Tuesday, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further U.S. interest rate hikes dragging on consumption in the world’s biggest economy. ›

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  • February 27th, 2023

Oil lower on firm dollar, market shrugs off Russian supply cuts

Oil prices fell in volatile trade on Monday, as a stronger dollar and fears of recession risks offset gains arising from Russia’s plans to deepen oil supply cuts. ›

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  • February 24th, 2023

Gas: Prices edge higher as temperatures turn cooler

British and Dutch gas prices edged higher on Friday morning on expectations of increased demand for heating as temperatures turn cooler. ›

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  • February 24th, 2023

Oil up on possible Russia cuts; inventories remain high

Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States. ›

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