fb_pixel



Energy Market Update 08/10/2024

Check out our LinkedIn for live updates

Published: 08/10/2024


Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy sector. Whether it’s fluctuations in oil and gas prices, changes in renewable energy policies, or updates on energy infrastructure projects, we’re here to help you stay informed. Join us as we break down the most important factors influencing the market this week, and explore what these changes could mean for your business.

Current Market Drivers:

📈 The IEA is forecasting increased gas demand in W-24 and into 2025, driven by rising demand from datacentres and economic recovery in Southeast Asia.

⚠️ Israel are considering attacks on Iranian oil infrastructure following Iran’s attacks last week; this has raised concerns of the possibility of the Strait of Hormuz being shut.

🛢️ U.S. oil and gas giants have cut the amount of oil and gas rigs in operation for the third week in a row. The total number of rigs is 34 rigs or 5.5% below the same time last year.

❄️ Whilst the recent cold weather has increased the demand for gas, European gas storages still remain at 94.4%, well above the target of 90% by November.

🏭 Despite a slight increase in European gas demand this year, it is expected that industrial gas consumption across Europe will decrease next year helping to decrease gas futures for 2025.

Get in Touch

For more insights or advice, contact Flame Energy today.

Powering Success. Power your projects with our water and energy management services.


Reach out today & discover how we can help.

Case Studies
News
Contact

Previous Energy Market Updates

Energy Market Update 11/02/2025

Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy...
Read More

Energy Market Update 03/02/2025

Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy...
Read More

Energy Market Update 28/01/2025

Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy...
Read More

GET IN TOUCH

We're always here for you

Please do not hesitate to contact us if you require further information about how we could improve your Energy management.

Newsletter Signup

© Copyright 2023 FlameUK

All rights reserved.

Sustainability
Energy Management
Energy Meters
Water Management
Sectors
Waste Management
Why Flame Energy?
Complaints
News
Contact

Case Studies

Privacy Policy
Terms & Conditions

Privacy Policy Terms & Conditions

Company Registration Number: 12025193. VAT Number: 357 406 000. Registered address: White House, Wollaton Street, Nottingham, NG1 5GF

Website Design by The New Fat