23 Aug, 23

European Natural Gas Prices Slump On Hopes Australia Will Avoid An LNG Strike

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Europe’s benchmark natural gas prices slumped on Wednesday after settling on Tuesday at the highest level since April, amid market tensions over a labor dispute threatening LNG supply from Australia. The front-month futures at the Dutch TTF hub, the benchmark for Europe’s gas trading, had plunged by 12% to $40.94 (37.86 euros) per megawatt (MWh) as of 11:29 a.m. GMT on Wednesday, as workers and LNG facility owners in Australia discuss a possible resolution to the dispute about pay and work conditions. The contract rose by more…

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