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Industry News from Energy Services

  • May 17th, 2017

Oil dips on rising US crude inventories, defies expected supply cut extension

Oil prices fell on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia to extend output cuts. ›

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  • May 16th, 2017

Supply pressure propels UK prompt power prices to three-month high

UK spot power prices soared to a three-month high on Tuesday as a sharp drop in wind and solar power generation increased system demand, tightening surplus margins, sources said. ›

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  • May 16th, 2017

Near-term UK wholesale natural gas prices climb as system seen short, curve edges higher

Near-term UK wholesale natural gas prices edged higher in early Tuesday trade on the back of an undersupplied gas system despite demand again coming in well below seasonal averages on mild temperatures. ›

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  • May 16th, 2017

UK gas falling Norwegian supply and cooler forecast lifts prices

British wholesale gas prices rose on Tuesday due to falling Norwegian deliveries and cooler weather forecasts. ›

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  • May 16th, 2017

Oil Gains as OPEC and Russia Seen Extending Supply Cut Into 2018

Oil rode its longest rising streak in more than a month as a proposal by the world’s two biggest crude producers to extend output curbs into 2018 boosted confidence that other nations will follow suit. ›

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  • May 15th, 2017

Oil rises above $52 as Saudis and Russia back longer supply cut

Oil hit its highest in more than three weeks on Monday, topping $52 a barrel after Saudi Arabia and Russia said that supply cuts need to last into 2018, a step toward extending an OPEC-led deal to support prices for longer than first agreed. ›

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  • May 15th, 2017

UK gas prices edge higher on undersupply, oil market gains

British prompt gas prices edged higher on Monday morning in a slightly undersupplied system, while prices further along the curve were buoyed by gains in oil markets. ›

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  • May 12th, 2017

UK gas prices decline on higher Norwegian supply forecast

British gas prices fell on Friday morning, in part reflecting expectations of higher Norwegian deliveries through the Langeled pipeline from next week. ›

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  • May 12th, 2017

Oil rises on expectations of extended OPEC-led production cut

Oil prices rose on Friday as traders expected OPEC-led production cuts to extend beyond the middle of this year, and as U.S. crude inventories fell to their lowest levels since February. ›

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  • May 11th, 2017

UK power: Fading solar supplies lift peakload spot price

UK day-ahead power prices were mixed Thursday, with the peakload contract climbing on tightening supply margins owing to falling solar generation, interconnector outage and increasing demand, but baseload declining, sources said. ›

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