Global Natural Gas Prices Traded at US$3.16 per Mmbtu This Afternoon (Monday, October 16, 2023)

Global natural gas prices fell on Monday, October 16, 2023. Trading today recorded US$3.16 per mmbtu, lower than the previous day's US$3.24 per mmbtu. This continues a four-day upward trend in global natural gas prices.

Over the past week, the movement of global natural gas prices slowed by 0.32 percent, with an average daily transaction price of US$3.32 per mmbtu. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), global natural gas prices have fallen by 20.86 percent. Compared to this year's highest price of US$4.17 per mmbtu, the price has dropped by 24.35 percent.

Annually, the average trading price of global natural gas over the past five years has shown an upward trend. However, monthly price monitoring over the past 12 months shows a downward trend. The highest average monthly price for global natural gas was recorded in November 2022 at US$6.46 per mmbtu.

Previously, news of potential gas shortages 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.