European gas prices gain on Australia LNG workers’ ultimatum
European natural gas advanced as workers serving a key export project in Australia prepare for a strike that could significantly dent global supplies in the run-up to winter.
European natural gas advanced as workers serving a key export project in Australia prepare for a strike that could significantly dent global supplies in the run-up to winter.
Europe’s natural gas reserves are almost full, though that still may not be enough to see the region through winter.
Global oil and gas supplies are on course to tighten further this year as OPEC sticks to its guns and other producers struggle to fill the gap.
Gas prices have been tipped to fall by as much as 30% in the near future as concerns about supply shortages ease.
European natural gas prices plunged the most since March after Germany said its gas stores are filling up faster than planned.
Record high gas prices could be a permanent fixture in the coming months until supply is able to catch up with global demand, experts have warned.
European gas prices surged again, bringing their gains over just two days to 60%, as the impact of soaring energy costs rippled through equity and bond markets and the European Union sounded the alarm.