Global natural gas prices traded at US$2.43 per Mmbtu today (Thursday, December 14, 2023).

Yahoo Finance reports that global natural gas prices rose 4.07 percent today, reaching US$2.43 per mmbtu. However, this increase remains below the average price movement over the past week.

Global natural gas prices saw their highest jump this week on Thursday, December 14, 2023, at 4.07 percent. However, they are down 39.07 percent compared to their year-to-date position.

This current situation continues the downward trend in global natural gas prices observed over the past two days.

Over the past week, global natural gas price movements slowed by 5.41 percent, with an average daily transaction price of US$2.44 per mmbtu. Compared to its position 30 days ago, the global natural gas price has slowed by 20.09 percent. From its highest price this year of US$4.17 per mmbtu, the global natural gas price has fallen by 41.75 percent.

Annually, the average trading price of global natural gas over the past five years has shown an upward trend. Meanwhile, monthly price monitoring shows that transactions over the past 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.

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.