Global Natural Gas Prices Traded at US$1.86 per Mmbtu (Thursday, April 11, 2024)

Yahoo Finance reports that the global natural gas price today fell 1.49 percent to US$1.86 per mmbtu. This price drop is considerably higher than the average price movement over the past week.

Global natural gas prices saw their highest surge this week on Monday, April 8, 2024, reaching 3.31 percent. However, trading since the beginning of the year has continuously declined, with year-to-date growth at -29.69 percent.

The current situation is similar to previous periods where global natural gas prices were in an upward trend.

Over the past week, the movement of global natural gas prices slowed by 0.27 percent, with an average daily transaction price of US$1.84 per mmbtu. Compared to the price at the beginning of the year, the global natural gas price has decreased by 29.69 percent. From its highest price this year of US$3.31 per mmbtu, the global natural gas price has fallen by 43.95 percent.

Annually, the average trading price of global natural gas over the past five years has been in a downward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to shrink. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.14 per mmbtu.

The Dutch Title Transfer Facility (TTF) is a virtual trading point for natural gas in the Netherlands. Virtually, this facility benefits numerous traders in conducting futures and physical gas trading.

Previously, Russia had reduced gas flows through the Nord Stream 1 pipeline to Germany to only 20% of total capacity. This led European countries to scramble for supplies to store as much gas as possible for the winter and to seek alternative supplies.