Posted by Sam Fenny - Memes and headline comments by David Icke Posted on 10 August 2023

European NatGas Prices Explode 40% Higher

In a stunning move, reminiscent of the first few months of Putin’s invasion of Ukraine, European NatGas prices exploded a stunning 40% higher today (oil and coal prices are also rising) as the possibility of worker strikes at some LNG plants in Australia threatens global supply….

US NatGas is also getting dragged higher…

For context, here is EU NatGas (energy equiv) compared to WTI and US NatGas…

As Bloomberg reports, workers at Chevron Corp. and Woodside Energy Group Ltd. facilities in Australia voted to strike, which has the potential to affect liquefied natural gas exports from the country, tightening the global market for the fuel. The exact timing of the industrial action – if it goes ahead – wasn’t immediately clear.

Asian buyers “are likely to bid up LNG imports” to replace Australian volumes if there are disruptions, which would affect Europe as well, said Nick Campbell, a director at consultant Inspired Plc.

“LNG has become a baseload supply in the European gas supply mix, therefore any signs that this flow is at risk leads to support in price.”

Read More: European NatGas Prices Explode 40% Higher

The Dream

From our advertisers