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Markets Waiting Outcome Of Chevron Talks

LNG

The LNG market trod water on Wednesday waiting for the outcome of ongoing labour negotiations at Chevron’s North West Shelf facilities in Australia. If there isn’t an agreement, industrial action could begin on September 7. European LNG prices rose 1.4% to EUR38.58 after an intraday high of EUR39.50. North Asian prices were steady. Both regions have significant stocks at a time when industrial activity is slowing and the winter season has yet to begin.

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