Market Insight

DAILY MARKET REPORT – 25/08/2023 Markets dropped further in yesterdays session as positive news relating to Woodside Energy and union representatives confirmed an in-principle deal made to avoid industrial action. Further comments have suggested workers approve of the deal. Chevron workers however have approved strike action, whilst negotiations are underway, despite this…

DAILY MARKET REPORT – 24/08/2023 Positive noises coming out of the Australian talks yesterday afternoon gave the market some comfort which saw a bearish session. Overnight further positive comments have been made that all but confirms avoidance of industrial action to take place, with workers due to ratify the deal…

DAILY MARKET REPORT – 23/08/2023 Markets showed some further upside yesterday as talks to avert strike action in Australia quickly approach. The outcome of the talks between Woodside Energy and union representatives are expected imminently, with Chevron workers expected to hold talks before the end of the week also. Yesterday saw the…

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…