Global Natural Gas Prices Rise for the Past Four Days

Global natural gas prices rose on Friday, August 9, 2024. Trading today recorded US$2.16 per mmbtu, higher than the previous day's US$2.13 per mmbtu. This continues a downward trend in global natural gas prices over the past four days.

Over the past week, global natural gas prices grew by 6.14 percent, with an average daily transaction price of US$2.04 per mmbtu. Compared to the beginning of the year, however, prices are down -18.17 percent. The highest price this year was US$3.31 per mmbtu, recorded on Friday, January 12, 2024.

The five-year average annual global natural gas price shows a downward trend. Monthly transactions over the past 12 months also show a downward trend. The highest average monthly price was recorded in October 2023 at US$3.14 per mmbtu.

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