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Keyword: utilitiiespower

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  • Record High Natural Gas Prices Will Send Oil Demand Even Higher

    10/09/2021 3:33:01 PM PDT · by Hojczyk · 32 replies
    Yahoo Finance ^ | Fri, October 8, 2021, 10:00 AM | Editor OilPrice.com
    Record-high natural gas prices are prompting more utilities to switch from gas to oil derivatives, fanning the flames of an already strong oil price rally. Yet, another report, also by Reuters, said that other analysts expected a lot of gas-to-oil switching this winter, which would drive oil prices higher and drive some UK energy suppliers out of business. "This has never happened before at such a global scale. The market has always tried to substitute from costly oil to much cheaper natural gas," Reuters quoted a SEB commodity analyst as saying. Now the tables have turned, and both commodities are...