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Industry News from Energy Services

  • June 23rd, 2023

Oil resumes slide on demand worries after UK rate hike

Oil prices fell for a second straight session and were headed for a weekly decline of more than 3% on Friday, as a higher-than-expected interest rate hike in Britain and warnings about looming rate rises in the U.S. ignited concerns over demand. ›

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  • June 22nd, 2023

Gas: Prices ease as high storage levels limit upside

British and Dutch gas prices eased on Thursday morning, as high storage levels limited any gains from lingering uncertainty over the length and extent of outages at Norwegian gas infrastructure. ›

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  • June 22nd, 2023

Oil eases on uncertain demand, market eyes US inventory data

Oil futures dipped on Thursday amid demand fears after the Federal Reserve chairman hinted at further interest rate hikes, while traders awaited official U.S. inventory data following an industry report that showed an unexpected draw in crude stocks. ›

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  • June 21st, 2023

Oil rises as hawkish Fed talk expectations offset China demand worries

Oil prices rebounded early on Wednesday, recovering after two straight sessions of losses, as expectations of hawkish Federal Reserve talk later in day and possible U.S. crude stock drawdowns outweighed China demand worries. ›

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  • June 20th, 2023

Gas: Prices rise on lower renewables generation

Wholesale British and Dutch gas prices rose on Tuesday morning due to lower pipeline gas flows from Norway to Britain and lower renewables generation. ›

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  • June 20th, 2023

Oil slips as China benchmark rate cuts smaller than expected

Oil prices slipped on Tuesday after China cut benchmark lending rates less than some expected, sowing further concern over the oil demand outlook in the world’s largest crude importer. ›

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  • June 19th, 2023

Europe Gas Prices Extend Fall After Weeks of Intense Volatility

European gas prices plunged for a second day, paring some of this month’s gains after several weeks of intense market volatility linked to supply risks and hot weather. ›

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  • June 19th, 2023

Oil slides more than 1% on China growth uncertainties

Global oil prices fell more than 1% on Monday, backing off last week’s gains, as questions over China’s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. ›

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  • June 16th, 2023

Oil set to snap two-week losing streak on China demand optimism

Oil prices were set to snap a two-week losing streak on Friday amid optimism about higher energy demand from top crude importer China and a weaker dollar. ›

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  • June 15th, 2023

Europe Gas Fluctuates as Extended Outages Leave Traders on Edge

European natural gas prices fluctuated as traders weighed prolonged outages across the continent against a mixed outlook for demand. ›

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