Global Natural Gas Price Traded at US$2.36 per Mmbtu This Afternoon (Wednesday, December 13, 2023)

Global natural gas prices rose on Wednesday, December 13, 2023, trading at US$2.36 per mmbtu. This is higher than the previous day's price of US$2.31 per mmbtu. This current situation is similar to the previous trend of shrinking global natural gas prices.

Over the past week, global natural gas prices have slowed by 13.03 percent, with an average daily transaction price of US$2.47 per mmbtu. Compared to the beginning of the year, global natural gas prices have slowed by 40.9 percent. From its highest price this year of US$4.17 per mmbtu, the global natural gas price has fallen by 43.5 percent.

Annually, the average global natural gas price trade over the past five years has shown an upward trend. Meanwhile, monthly price monitoring shows an upward trend in transactions over the past 12 months. The highest average monthly price for global natural gas was recorded in January 2023 at US$3.43 per mmbtu.

Russia has used its control over gas supplies to pressure European countries in retaliation for sanctions imposed following its invasion of Ukraine. The Russian state-owned gas company, Gazprom, shut down the Nord Stream 1 pipeline.