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Commodity: The price of natural gas is rising in Europe with the strike in Australia

13/09/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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The price of European natural gas rose at the beginning of this week, driven by disruptions in the supply of liquefied natural gas from Australia due to a strike; oil, for its part, is booming due to gas catches. acute; remains close to its highest levels since November

.

The Dutch TTF futures contract, considered to be the European benchmark, rose by more than 6% to 36.75 euros per megawatt hour (MWh), around 17:40 p.m.

According to analysts at Energi Danmark, “the gains were mainly caused by strikes at the Australian LNG (liquefied natural gas, editor's note) facilities that have now entered”.

Indeed, employees of the American energy giant Chevron began rotating strikes on Friday to raise their wages at the production sites of gaz of the American band in Australia. For DNB analysts, “Chevron facilities represent nearly 7% of the global LNG supply

.”

En ce qui concerne le oil , "serif"">, the barrel of Brent of the North Sea, for delivery in November, lost 0.31% to 90.37 dollars. Its American equivalent, a barrel of West Texas Intermediate (WTI ), for delivery in October, fell by 0.50% to 87.07 dollars.

Oil prices were catching their breath due to “profit takeovers after recent gains,” DNB analysts explain.
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