© Reuters European gas contracts jump 14% today after this news!
Arabictrader.com – Futures in Europe witnessed a strong jump during trading on Friday, as gas prices in the region rose by more than 14%, amid increasing investor concerns about a decline in global gas supplies, as a result of strikes by workers in the energy and liquefied natural gas field in Australia, including… It threatens about 10% of global gas production, at a time when Europe faces fears of supply shortages after most Russian gas exports to the region were cut off.
It was reported this morning that talks between employees of Chevron Corp (NYSE:) Chevron Corp have failed. The American giant and the company’s leaders inside Australia, which resulted in the company’s natural gas workers in the Gorgon and Wheatstone LNG projects starting a collective strike.
Commenting on this step, the Offshore Alliance Union for Chevron Gas Sector Workers stated that although Chevron was given many opportunities to settle the bargaining agreements and reach a solution satisfactory to all parties, the company continued to be intransigent, and indicated that the strikes would serve as punishment for the company, adding that it was This strike in the gas sector is scheduled to continue until September 14.
In terms of trading, British natural gas futures contracts for October delivery jumped by 14.72% to reach 89.94 pence per British thermal unit, and Dutch natural gas futures TTF contracts for October delivery rose by 11.32% to 36.62 euros per megawatt hour.
2023-09-08 12:08:00
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