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

Global natural gas prices rose in transactions on Tuesday, December 26, 2023, reaching US$2.57 per mmbtu. This is higher than the previous day's trading price of US$2.50 per mmbtu. This current situation is similar to previous trends showing a shrinking global natural gas price.

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, global natural gas prices have slowed by 10.83 percent. From its yearly high of US$4.17 per mmbtu, the global natural gas price has fallen by 38.4 percent.

Annually, the average global natural gas trading price over the last five years shows an upward trend. Meanwhile, monthly price monitoring over the past 12 months indicates an upward trend. The highest average monthly price for global natural gas was recorded in January 2023 at US$3.43 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.