Natural gas prices are soaring as energy workers in Australia look poised to strike, threatening global supply

• Natural gas prices surged as much as 9% on Wednesday as energy workers in Australia threatened to strike.
• Australia is the world's second-largest exporter of liquefied natural gas, so potential work stoppages could threaten global supply of the commodity.
• Natural gas prices have surged 22% over the past week, but are still down 60% from a year ago.

The possibility of strikes at natural gas plants in Australia sent the commodity surging as much as 9% on Wednesday.

Workers at major liquefied natural gas plants off the coast of Western Australia have voted to inch closer towards a potential work stoppage.