Global Natural Gas Prices Traded at US$3.03 per Mmbtu This Afternoon (Friday, November 10, 2023)

Yahoo Finance reports that the global natural gas price today fell 0.26 percent to US$3.03 per mmbtu. This price drop is relatively significant compared to the average price movement over the past week.

This week, the global natural gas price saw its highest surge on Friday, November 10, 2023, at 0.26 percent. It has weakened by 23.95 percent compared to its year-to-date position.

The current situation completes a six-day upward trend in global natural gas prices.

Over the past week, the global natural gas price movement slowed by 12.64 percent, with an average daily transaction price of US$3.22 per mmbtu. Compared to the beginning of the year, the global natural gas price has slowed by 23.95 percent. From its highest price this year of US$4.17 per mmbtu, the global natural gas price has fallen by 27.3 percent.

Annually, the average trading price of global natural gas over the past five years has been on an upward trend. Meanwhile, monthly price monitoring shows that transactions over the past 12 months have tended to decline. The highest average monthly price for global natural gas was recorded in December 2022 at US$5.77 per mmbtu.

Previously, news of a potential gas shortage 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.