European gas prices jumped 10% as workers at Major Lng Facilities in Australia went on strike. The strikes at the Gorgon and Wheatstone projects in Western Australia followed failed negotiations over pay and job security. No further talks are scheduled between Chevron and the unions representing the workers. The strikes are set to continue for up to two weeks, raising concerns about a prolonged halt in production and potential global supply squeeze. Analysts expect market volatility to persist due to fears of strike action in Australia, one of the world's largest LNG exporters.

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