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Industry News from Energy Services

  • May 23rd, 2023

Oil slips as US debt ceiling concerns offset tight supply

Oil prices slipped on Tuesday as investor concern over the risk of a U.S. debt default dampened risk appetite, although a tighter market due to a seasonal rise in gasoline demand and supply cuts from OPEC+ producers lent support. ›

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  • May 22nd, 2023

European Gas Prices Drop as Goldman Sees Fuel-Switching Floor

European natural gas neared a two-year low as weak industrial demand and ample supplies weigh on prices, with Goldman Sachs Inc. seeing the possibility of a floor in the mid-€20 range. ›

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  • May 22nd, 2023

Oil down 1%, US debt caution offsets supply worries

Oil prices slipped on Monday as caution around U.S. debt ceiling talks and concerns about demand recovery in China offset support from lower supplies from Canada and OPEC+ producers. ›

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  • May 19th, 2023

European Gas Prices Edge Higher as Market Finds Floor Around €30

European natural gas futures rose from a 23-month low, in a sign that traders see €30 as a floor for prices for now, with demand remaining stubbornly low. ›

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  • May 19th, 2023

Oil rebounds on fading risk of US debt default

Oil prices rebounded on Friday from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading risk of a U.S. debt default. ›

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  • May 18th, 2023

Gas: Prices remain near 2-year lows on strong inventories

British and Dutch wholesale gas prices were down on Thursday morning and remained near 2-year lows on tepid demand due to strong flows of liquefied natural gas (LNG) and solid inventories. ›

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  • May 18th, 2023

Oil prices ease on caution over US debt ceiling talks

Oil prices fell on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging nearly 3% in the previous session on optimism over U.S. fuel demand. ›

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  • May 17th, 2023

Gas: Dutch gas benchmark inches up, but solid supply weighs

The benchmark Dutch front-month gas contract inched up on Wednesday but remained near its 2-year low on solid inventories and weak demand and is expected to remain at low levels as rising temperatures contribute to lower heating demand. ›

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  • May 17th, 2023

Oil dips on demand worries after unexpected U.S. crude build

Oil prices fell for a second day on Wednesday after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States and China, the world’s two biggest oil consumers. ›

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  • May 16th, 2023

Gas: Dutch benchmark extends losses in well-supplied market

The benchmark Dutch front-month contract fell to a fresh near 2-year low on Tuesday amid tepid demand and strong supply, but lower wind speeds supported day-ahead prices. ›

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