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Industry News from Energy Services

  • May 29th, 2020

Oil falls but set to post biggest monthly rise in years on output cuts

Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening U.S.-China tensions weighed on global financial markets.

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  • May 28th, 2020

Oil falls as surprise U.S. stock build douses demand recovery hopes

Oil prices plunged on Thursday after U.S. industry data showed a surprise steep build in crude oil inventories, dampening hopes of a smooth recovery in demand as some countries begin to ease their way out of coronavirus lockdowns.

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  • May 27th, 2020

EUROPE POWER – Prompt prices down on increased wind power generation

European wholesale spot power prices for day-ahead delivery tumbled on Wednesday on the back of a forecast rise in renewables power generation while electricity demand is expected to fall. ›

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  • May 27th, 2020

Oil falls on demand concerns, tensions over Hong Kong

Oil prices fell on Wednesday as concerns over how quickly fuel demand will recover tempered an easing of lockdowns to halt the spread of coronavirus, while U.S.-China tensions added to negative sentiment. ›

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  • May 26th, 2020

Oil prices climb as faith grows that suppliers will meet pledge to cut output

Oil prices rose on Tuesday, supported by growing confidence in the market that producers will come good on commitments to cut crude supply while demand picks up with more cars back on the road as coronavirus lockdowns eased around the world.

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  • May 22nd, 2020

Oil falls as China omits 2020 growth target amid pandemic

Oil prices fell on Friday after China failed to set an economic growth target for 2020, sparking concerns that the fallout from the coronavirus pandemic will cap fuel demand in the world’s second-largest oil user.

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  • May 21st, 2020

UK GAS-Prices slump on weak demand

British wholesale gas prices slumped on Thursday morning due to expectations of a drop in gas-for-power demand.

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  • May 21st, 2020

Oil prices rise to highest since March after U.S. stock drawdown

Oil prices rose on Thursday to their highest since March, as a drawdown of U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, offsetting fears over the economic fallout from the COVID-19 epidemic.

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  • May 20th, 2020

EUROPE POWER-Friday spot tumbles on drop in demand and increased wind output

European baseload spot power prices for Friday delivery, the next trading day after a bank holiday, tumbled on Wednesday on a forecast fall in demand and a sharp rise in German wind power generation.

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  • May 20th, 2020

Oil steady as economic worries offset signs of firmer demand

Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus pandemic capped gains.

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