Global Natural Gas Prices Fall for the Past Six Days

Yahoo Finance reports that global natural gas prices fell 2.71 percent today, reaching US$1.76 per mmbtu. This price drop is significantly higher than the average price movement over the past week.

Global natural gas prices saw their highest surge this week on Monday, February 12, 2024, at 2.71 percent. However, trading since the beginning of the year has continuously declined, with year-to-date growth at -33.47 percent.

The current situation completes a six-day downward trend in global natural gas prices.

Over the past week, global natural gas price movements slowed by 15.53 percent, with an average daily transaction price of US$1.91 per mmbtu. As a result, throughout 2024, global natural gas prices have shrunk by -33.47 percent from their year-start position of US$2.64 per mmbtu. The highest trading value for global natural gas commodities this year was US$3.31 per mmbtu, recorded on Friday, January 12, 2024.

Annually, the average trading price of global natural gas over the past five years has been on a downward trend. Meanwhile, monthly price monitoring shows that transactions over the past 12 months have tended to increase. The highest average monthly price for global natural gas commodities was recorded in October 2023 at US$3.16 per mmbtu.

Previously, news of a potential gas shortage deepened concerns about the risk of recession in countries dependent on the fuel for industry and power generation, including the UK and the European Union.