Talks Between Chevron And Unions Representing Workers At Its Liquefied Natural Gas Facilities In Australia Ended Earlier Friday Without A Deal; Strike Action To Go Ahead As Planned; Gas Prices in Europe Rose As Much As 11%
Portfolio Pulse from Charles Gross
Talks between Chevron and unions representing workers at its liquefied natural gas facilities in Australia ended without a deal, leading to planned strike action. This news led to an increase in gas prices in Europe by as much as 11%.
September 08, 2023 | 8:48 am
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POSITIVE IMPACT
The United States Natural Gas Fund (UNG) may see a short-term increase in value due to the rise in European gas prices following the news of the planned strike at Chevron's Australian LNG facilities.
The United States Natural Gas Fund (UNG) tracks the price of natural gas and could benefit from the rise in European gas prices following the news of the planned strike at Chevron's Australian LNG facilities.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Chevron's failed negotiations with unions may lead to disruptions in its LNG operations in Australia, potentially affecting its revenues and stock price.
The planned strike action at Chevron's LNG facilities in Australia could disrupt operations and potentially impact the company's revenues. This could negatively affect the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100