Golar (GLNG) Climbs 22.6% as LNG Crisis Bites

Golar LNG Limited (NASDAQ:GLNG) is 1 of the 10 Stocks Gaining Momentum Fast.

Golar LNG Limited (NASDAQ:GLNG) surged by 22.6 percent week-on-week, arsenic investors piled funds into vigor stocks connected expectations that they would mostly payment from the ongoing tensions successful the Middle East.

The banal rallied alongside its counterparts amid the ongoing tensions successful the Middle East that continued to propel higher earthy state prices and disrupt supply.

Photo from Golar LNG website

Adding to the sentiment was quality that a large earthy state hub successful Qatar, which accounts for one-fifth of the world’s LNG supply, had been deed by a rocket onslaught earlier successful the week.

The state-run vigor steadfast said that the onslaught caused “extensive damage,” with losses estimated to deed arsenic overmuch arsenic $20 billion.

Even if the Middle East tensions subside, economists expect LNG prices to stay elevated, arsenic it would instrumentality the installation 5 years to beryllium repaired.

In different news, Golar LNG Limited (NASDAQ:GLNG) announced that it grew its nett income attributable to shareholders by 29 percent past twelvemonth to $65.68 cardinal from $50.84 cardinal successful 2024. Total operating revenues jumped by 51 percent to $393.5 cardinal from $260.37 million.

In the 4th fourth alone, Golar LNG Limited (NASDAQ:GLNG) said that nett income attributable to shareholders fell by 67 percent to $10.36 cardinal from $31.48 cardinal successful the aforesaid 4th a twelvemonth earlier, portion full operating revenues accrued by 8.4 percent to $132.8 cardinal from $122.5 million.

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