European Gas Prices Slump as Risk of Australian Strike Recedes
- Unions endorsed in-principle ‘strong’ offer from Woodside
- Unions representing workers at Chevron plants vote to strike
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European natural gas tumbled on signs that a labor dispute at Australia’s biggest liquefied natural gas export plant will be resolved, easing fears about one out of three possible strikes in the key exporting nation.
Benchmark futures settled 13% lower, finishing another turbulent day. They collapsed as much as 21% in the morning, the most since March 2022.