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Industry News from Energy Services

  • February 29th, 2024

Oil falls on US demand worries, interest rate fears

Oil prices fell on Thursday after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated added to pressure. ›

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  • February 28th, 2024

Oil eases as Fed caution, stock build outweighs OPEC+ news

Oil prices pulled back in Asia on Wednesday as the prospect of a delay in the U.S. rate-cutting cycle and a rise in U.S. crude stocks offset a boost on Tuesday from news OPEC+ might extend its output cuts. ›

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  • February 27th, 2024

Oil prices rise amid concerns about Red Sea attacks on shipping

Oil prices on Tuesday built on gains made a day earlier amid attacks on shipping in the Red Sea that have exacerbated supply worries. ›

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  • February 26th, 2024

Oil extends losses after dollar rises on shifting interest rate outlook

Oil prices fell on Monday, extending losses from the previous session after the dollar rose on market views that higher-than-expected inflation could delay cuts to high U.S. interest rates that have been capping global fuel demand growth. ›

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  • February 23rd, 2024

Oil set to snap winning streak after Fed says in no rush to cut US rates

Oil prices were on track on Friday to snap a two-week winning streak after the U.S. central bank indicated interest rate cuts could be delayed by at least two more months, but indications of healthy fuel demand and supply concerns could revive prices in coming days. ›

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  • February 22nd, 2024

Oil rises for second day on improving signs of US refinery demand

Oil prices rose for a second day on Thursday, buoyed by expectations that demand in the U.S., the world’s biggest oil consumer, will improve as refineries try to return to service after outages and as the dollar weakened. ›

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  • February 21st, 2024

Oil rises as investors weigh Red Sea attacks, US rate cut outlook

Oil prices regained some ground in Asian trade on Wednesday amid concerns over attacks on shipping in the Red Sea and growing expectations that cuts to U.S. interest rates will take longer than thought. ›

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  • February 20th, 2024

Oil hovers near 3-week high on Middle East tensions, China demand

Oil prices edged lower on Tuesday but remained near three-week highs on heightened Middle East tensions and as China showed some signs of economic recovery. ›

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  • February 19th, 2024

Oil drops as sticky US inflation heightens demand concerns

Oil prices fell as investor attention returned to the demand outlook after reports of higher producer prices in the U.S., the world’s biggest oil user, stoked worries that sticky inflation and higher interest rates would limit fuel consumption growth. ›

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  • February 16th, 2024

Oil flat as weaker IEA outlook weighs on US rate cut hopes

Oil prices stalled on Friday over a forecast of slowing demand by the International Energy Agency after gaining in the previous session on weak U.S. retail sales data that sparked optimism that the Fed might cut interest rates sooner than expected. ›

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