Global Natural Gas Prices Traded at US$2.67 per Mmbtu This Afternoon (Sunday, January 28, 2024)

Yahoo Finance reports that global natural gas prices fell 1.44 percent today to US$2.67 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 Wednesday, January 24, 2024, reaching 7.8 percent. Year-to-date (YTD), trading has strengthened by 1.21 percent.

The current situation is similar to previous trends, with global natural gas prices showing a declining trend.

Over the past week, global natural gas prices slowed by 0.89 percent, with an average daily transaction price of US$2.57 per mmbtu. Compared to 30 days ago, global natural gas prices have grown by 7.26 percent. The highest trading value for global natural gas 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 shown an upward trend. Monthly price monitoring over the past 12 months also indicates an upward trend. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.16 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.