https://sputnikglobe.com/20231010/gas-futures-in-europe-up-by-6-topping-500-per-1000-cubic-meters-1114056747.html
Gas Futures in Europe Up by 6%, Topping $500 Per 1,000 Cubic Meters
Gas Futures in Europe Up by 6%, Topping $500 Per 1,000 Cubic Meters
Sputnik International
Gas futures in Europe increased by 6%, exceeding $500 per 1,000 cubic meters for the first time since August 22, according to data from the London-based ICE exchange on Tuesday.
2023-10-10T06:59+0000
2023-10-10T06:59+0000
2023-10-10T08:19+0000
economy
gas
gas prices
futures market
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November futures on the TTF index — Europe's largest hub — opened at $487.8 per 1,000 cubic meters (+2.2%). As of 06:24 GMT, they were trading at $507.7 (+6.4%).The reason behind the price surge apparently stems from investors’ expectations of a supply-side shock caused by strikes at LNG facilities in Australia.In September, workers at Chevron's LNG plant went on strike, demanding a wage hike. Walkouts occurred at the Gorgon and Wheatstone plants, which contributed roughly 7% to global LNG supplies last year.
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Gas Futures in Europe Up by 6%, Topping $500 Per 1,000 Cubic Meters
06:59 GMT 10.10.2023 (Updated: 08:19 GMT 10.10.2023) MOSCOW (Sputnik) - Gas futures in Europe increased by 6%, exceeding $500 per 1,000 cubic meters for the first time since August 22, according to data from the London-based ICE exchange on Tuesday.
November futures on the TTF index — Europe's largest hub — opened at $487.8 per 1,000 cubic meters (+2.2%). As of 06:24 GMT, they were trading at $507.7 (+6.4%).
The reason behind the price surge apparently stems from investors’ expectations of a supply-side shock caused by strikes at LNG facilities in Australia.
In September, workers at Chevron's LNG plant went on strike, demanding a wage hike. Walkouts occurred at the Gorgon and Wheatstone plants, which contributed roughly 7% to global LNG supplies last year.
