Market Insight

DAILY MARKET REPORT – 15/09/2023 Markets continue to maintain a holding envelope whilst strike action continues in Australia at Chevron LNG terminals. Freeport LNG in the US yesterday cancelled four cargoes as a result of continued issues with feedgas. Despite the negativity around LNG currently, markets appear to hold out for…

DAILY MARKET REPORT – 14/09/2023 Escalation begins today at Chevron LNG sites in Australia as workers begin full stoppages, following a week of increased stoppages for selected hourly blocks, as legal interventions are expected in a weeks time. Norwegian flows remain low as the return of fields on planned maintenance is…

DAILY MARKET REPORT – 13/09/2023 A date has been set for an industrial tribunal to hear Chevron and Union representatives in order to find a solution to the ongoing dispute in Australia for next Friday, 22nd September. However that is a week into full scale walk outs which commence tomorrow and the…

DAILY MARKET REPORT – 12/09/2023 Markets ticked up yesterday as workers at Chevron LNG terminals in Australia increase their daily hours of strike action, ahead of full walk outs from Thursday. Unions stated they would oppose plans for Chevron to use untested legal processes to bring matters to an end, leaving the…

DAILY MARKET REPORT – 11/09/2023 Workers at Chevron LNG terminals in Australia began their industrial action on Friday after talks to avert action broke down. Each day, for a set number of hours, workers will refuse to work. However from Thursday they will escalate this to a full walkout. Meanwhile over the weekend …

DAILY MARKET REPORT – 08/09/2023 Talks between Chevron and union workers in Australia were found not to have reached a solution ahead of the delayed industrial action which has now started. Starting today, and continuing for a week, workers will cease work for a set number of hours each day. They have…

DAILY MARKET REPORT – 07/09/2023 Markets saw a bearish afternoon session as news relating to the planned action at Chevrons Australian LNG terminals were put back by 24 hours, signalling some progress perhaps being made in talks to avert the action entirely. Eyes will therefore be on further progress today,…

DAILY MARKET REPORT – 06/09/2023 A fairly level day as news is awaited on progress of the talks which continue to avert reduced working hours of Chevron LNG workers in Australia starting tomorrow. Yesterday saw the TTF Front Month contract settle at €34.45 (from €33.57) and the NBP Front Month contract…

DAILY MARKET REPORT – 05/09/2023 A bearish start to the week, but the market watches closely as talks between union representatives and Chevron don’t appear to be making positive progress ahead of planned action commencing this Thursday. Overnight an escalation of extended walkouts from 14th September have been proposed, indicating talks…