Global Natural Gas Prices Rise Towards US$2.57 per Mmbtu (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.

Global natural gas prices saw their highest jump this week on Tuesday, December 26, 2023, at 2.88 percent. They have weakened by 35.56 percent compared to their year-start position.

The current situation is similar to previous movements in global natural gas prices, which are 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 year-start price, global natural gas prices have fallen by 35.56 percent. From their highest price this year of US$4.17 per mmbtu, global natural gas prices have 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 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.