Global Natural Gas Prices Traded at US$2.93 per Mmbtu This Afternoon (Thursday, November 23, 2023)

Yahoo Finance reports that global natural gas prices rose 1 percent today, reaching US$2.93 per mmbtu. This increase is relatively significant compared to the average price movement over the past week.

This week, global natural gas prices saw their highest jump on Wednesday, November 22, 2023, at 1.79 percent. However, prices are down 26.63 percent compared to their year-start position.

Current conditions reflect the downward trend in global natural gas prices over the past two days.

Over the past week, global natural gas prices have fallen 8.28 percent, with an average daily transaction price of US$2.93 per mmbtu. As a result, throughout 2023, global natural gas prices have decreased by 26.63 percent from their year-start level of US$3.99 per mmbtu. The highest trading value for global natural gas this year was US$4.17 per mmbtu, recorded on Wednesday, January 4, 2023.

Annually, the average trading price of global natural gas over the past five years has shown an upward trend. However, monthly price monitoring over the past 12 months indicates a downward trend. The highest average monthly price for global natural gas was recorded in December 2022 at US$5.77 per mmbtu.

Earlier news from early September 2022 reported that European gas prices soared after Russia shut down the Nord Stream 1 pipeline. Russia shut down the gas flow through the Nord Stream 1 pipeline due to newly discovered damage. Gas prices skyrocketed as the market anticipated gas shortages ahead of winter.