European Gas Hits Two-Month High on Australia Workers’ Ultimatum
- Woodside LNG staff will strike if no deal reached by Wednesday
- Industrial action could start as early as Sept. 2, union said
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European natural gas jumped to a two-month high as workers at export facilities in Australia prepare for strikes that could significantly dent global supplies in the run-up to winter.
Disruptions risk impacting 10% of the world’s liquefied natural gas flows, a prospect keeping traders in Europe on edge. The region is still recovering from last year’s energy crisis, when Russian supply cuts left it highly exposed to shifts in the tight global market.