Gas prices in Europe jump 6% on supply concerns

EPA-EFE/FILIP SINGER

European gas prices continued to rise on Tuesday as workers at Australian liquefied natural gas producer company, Woodside Energy Group Ltd., handed the corporation a seven-day notice to resolve the dispute before going on strike as early as September 2.

The potential industrial action at Australia's top gas exporter spiked fears over disruption of the commodity supply around the world.

For deliveries in September, UK natural gas futures jumped 6.05% to go for 108.190 pence per therm at 1:33 pm CET. For the same month contracts, Dutch TTF natural gas soared 6.03% to €44.23 per megawatt hour.

Baha Breaking News (BBN) / AB