Market Insight

DAILY MARKET REPORT – 22/08/2023 Markets rose again yesterday as we edge closer to potential strike action at the Australian LNG plants of Woodside Energy and Chevron. With a clear 7 days notice already issued, taking effect on 2nd September, Wednesdays scheduled talks between Woodside and Union representatives have added pressure…

DAILY MARKET REPORT – 21/08/2023 A fairly stable market to end the week as news relating to potential strikes at LNG terminals in Australia is awaited. News released at the weekend suggests that could be more likely with a potential date of 2nd September for the Woodside Energy workers. Later this week…

DAILY MARKET REPORT – 18/08/2023 A small decline in market prices in yesterdays session as traders continue to navigate the lack of progress around potential strike action in Australia. No significant updates whilst talks are expected to continue well into next week, and then any proposals to be considered by…

DAILY MARKET REPORT – 17/08/2023 A yo-yo of sessions, as the market awaits news on progress relating to the potential strikes in Australia, saw a small downward movement on contracts yesterday. Mixed messages from both sides of the dispute show slow progress being made with further talks due to take…

DAILY MARKET REPORT – 16/08/2023 Markets returned to bullish direction yesterday, this time with the curve travelling with the prompt delivery contracts. Talks between unions and Australian LNG plant owners over strike action could take some time to resolve as any potential offers need to go back to workers for…

DAILY MARKET REPORT – 15/08/2023 Markets started the week very much where they left off at the end of last week, with a small downward correction on the prompt and the curve staying level. Much of the nervousness around Australian LNG strikes still lingers. On the positive side, EU gas storage…

DAILY MARKET REPORT – 14/08/2023 Markets ended on a slightly bearish note to end the week, but not anywhere near enough to undo the fear introduced during the week on the back of potential Australian LNG strikes. With talks still ongoing, including drawing up plans to limit the export impact…

DAILY MARKET REPORT – 11/08/2023 Markets retreated slightly from the panic seen on Wednesday following those potential strike announcements in Australia. Union talks are expected to have some global focus as they seek to avert the strikes over pay and conditions for the LNG workers. Whilst nearly all of the Australian…

DAILY MARKET REPORT – 10/08/2023 Yesterday showed just how nervous the market remains and will react to any form of bad news. Australian workers at Woodside Energy and Chevron LNG plants voting to strike, possibly as early as next week. The output from these plants account for around 11% of global exports, and…