Global Natural Gas Prices Traded at US$2.57 per Mmbtu This Afternoon (Tuesday, December 26, 2023)

Yahoo Finance reports that global natural gas prices rose 2.88 percent today, reaching US$2.57 per mmbtu. However, this increase remains below the average price movement over the past week.

This week, the highest jump in global natural gas prices occurred on Tuesday, December 26, 2023, at 2.88 percent. Compared to the beginning of the year, prices have weakened by 35.56 percent.

The current situation is similar to previous movements, with global natural gas prices remaining in a downward trend.

Over the past week, global natural gas prices grew by 1.74 percent, with an average daily transaction price of US$2.53 per mmbtu. Compared to the price 30 days ago, the movement of global natural gas prices has slowed by 10.83 percent. From its highest price this year of US$4.17 per mmbtu, the global natural gas price has fallen by 38.4 percent.

Annually, the average trading price of global natural gas over the past five years has been in an upward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to increase. The highest average monthly price for global natural gas was recorded in January 2023 at US$3.43 per mmbtu.

Earlier news from early September 2022 reported that European gas prices soared after Russia shut down the Nord Stream 1 pipeline. Russia shut down the gas flow through the Nord Stream 1 pipeline due to discovering new damage. Gas prices soared as the market anticipated gas shortages ahead of winter.