The price of Dutch natural gas, the European benchmark, has jumped 24% to €40 per megawatt hour since Tuesday on news of potential industrial action at liquefied natural gas plants in Australia. US natural gas prices have climbed 18% so far this month. The Offshore Alliance, which represents two Australian labor unions, has taken steps toward strike action at Chevron\n \n ’s Gorgon and Wheatstone LNG sites, Brad Gandy, a spokesperson for the alliance, said in a statement.
‘Bidding war’ for US gas? Bill Weatherburn, commodities economist at Capital Economics, said that if Australian LNG exports were disrupted, Asian and European buyers could find themselves “in a bidding war” for cargoes. “As much of the spare LNG supply comes from the US, natural gas prices there have also jumped higher,” he added. The sudden rise in gas prices follows a recent run-up in oil prices, driven by production cuts by major exporters such as Saudi Arabia and Russia.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WeWork says it has 'substantial doubt' about its ability to stay in business | CNN Business“Substantial doubt exists” about WeWork’s ability to continue to stay in business, due to the company’s losses, projected cash needs, and increased member turnover, according to the company’s second quarter earnings release.
Source: CNN - 🏆 4. / 95 Read more »
Burger King hopes this change will reignite America's love for the Whopper | CNN BusinessBurger King’s sales have grown as it works to turn around its business. But it still has a problem: Not enough customers.
Source: CNN - 🏆 4. / 95 Read more »
Under Biden, US oil production is poised to break Trump-era records | CNN BusinessCritics accuse President Joe Biden of waging a war on the oil industry that is hurting consumers at the gas pump. And yet, on his watch, US oil production is poised to shatter all-time records set during the Trump administration.
Source: CNN - 🏆 4. / 95 Read more »
How we're buying perfume could signal how we're feeling about the economy | CNN BusinessDemand for more budget-friendly roll-on rollerball perfumes is up 207% so far this year over last year, followed by a 183% jump in cheaper perfume samplers, according to Pattern, an ecommerce platform that analyzes online product search data
Source: CNN - 🏆 4. / 95 Read more »
Even 'Barbie' may not be able to rescue AMC Theaters | CNN BusinessBarbie has already pulled in over a billion dollars. That still may not be enough to save AMC Theaters, which has a looming bill it may not be able to pay back.
Source: CNN - 🏆 4. / 95 Read more »
Disney+ hikes prices as sales sink across the company | CNN BusinessThe Walt Disney Company is hiking prices for its Disney+ streaming service for the second time in less than a year, as its third-quarter earnings report showed revenue struggles almost everywhere but international parks
Source: cnni - 🏆 326. / 59 Read more »