European natural gas prices climbed for a third straight session on Monday with labor strikes well underway at LNG terminals in Western Australia and maintenance work at production sites offshore Norway taking longer than expected and cutting into supplies. 

The prompt Title Transfer Facility (TTF) contract finished 4% higher on Monday and climbed back above $11/MMBtu as gains also were seen further out the curve. Benchmark prices undulated last week as the market weighed the risks of prolonged strikes at Chevron Corp.’s Gorgon and Wheatstone liquefied natural gas terminals against a mild weather outlook and brimming storage inventories in Europe. 

Chevron continued to signal Monday that it sees no possible agreement being reached with unions over a dispute about wages and...