Chevron's LNG Strikes Disrupt 7% Of Global Supply: 5 Stocks To Watch As Natural Gas Prices Surge
Portfolio Pulse from Piero Cingari
Strikes at Chevron Corp.'s Australian Liquefied Natural Gas (LNG) export facilities have disrupted 7% of the global LNG supply, causing a surge in natural gas prices. The strikes come after failed negotiations with unions. The facilities primarily serve Asia, and prolonged strikes could further disrupt operations and affect prices worldwide. Natural gas prices have already risen, with the European Dutch TFF benchmark surging over 10% and the Henry Hub natural gas price in the US rising 2%. Shares of major US natural gas exporting companies, including Cheniere Energy Inc., Antero Resources, Devon Energy Corp., EQT Corp., and Southwestern Energy Co., have also seen increases.
September 08, 2023 | 3:02 pm
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Chevron's inability to secure agreements with unions has led to strikes, disrupting 7% of the global LNG supply and causing a surge in natural gas prices.
The strikes at Chevron's facilities have disrupted a significant portion of the global LNG supply, which could lead to a decrease in LNG supply and potentially affect prices worldwide. This could negatively impact Chevron's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Shares of Antero Resources were up 2.3%.
The surge in natural gas prices due to the strikes at Chevron's facilities could benefit Antero Resources, a company primarily engaged in the exploration and production of natural gas. This could positively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Devon Energy Corp. shares gained 1.24%.
The surge in natural gas prices due to the strikes at Chevron's facilities could benefit Devon Energy Corp., a company primarily engaged in the exploration and production of natural gas. This could positively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
EQT Corp. was up 0.9%.
The surge in natural gas prices due to the strikes at Chevron's facilities could benefit EQT Corp., a company primarily engaged in the exploration and production of natural gas. This could positively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Shares of Cheniere Energy Inc. gained 1.41% during Friday morning’s trading session.
The surge in natural gas prices due to the strikes at Chevron's facilities could benefit Cheniere Energy Inc., a major US natural gas exporting company. This could positively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Southwestern Energy Co. was spiking 6.2% higher.
The surge in natural gas prices due to the strikes at Chevron's facilities could benefit Southwestern Energy Co., a company primarily engaged in the exploration and production of natural gas. This could positively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100