Chinese gas suppliers in strong rally on report Australia LNG plant strike, European gas price jumps 
COMMODITIES MARKET STOCKS
Chinese gas suppliers in strong rally on report Australia LNG plant strike, European gas price jumps 
COMMODITIES MARKET STOCKS

Chinese gas suppliers in strong rally on report Australia LNG plant strike, European gas price jumps 

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

Chinese gas suppliers stage a strong rally, with an index tracking the sector compiled by Wind Information surging by nearly 3.5%, making it the best-performing sector in the A-share market.

Shaanxi Meining Clean Energy, Senton Energy, Shuifa Energas Gas surging by the daily limit of 10%.

The rally came after reports that workers at important LNG plants in Australia were planning strike action in a fight for higher pay and better job security, with market movements exacerbated by some traders closing out bets that gas prices would fall.

European natural gas prices surged almost 40% on Wednesday as the potential for disrupted global LNG supply from Australia spooked traders betting on further price declines. Prices on the Title Transfer Facility, the European benchmark, rose to more than €43 per megawatt hour, up from almost €30 on Tuesday, reaching its highest point since mid-June.