Global Natural Gas Price Trades at US$2.71 per Mmbtu This Afternoon (Sunday, December 3, 2023)

Yahoo Finance reports that global natural gas prices today fell 3.55 percent to US$2.71 per mmbtu. This price drop is significantly higher than the average price movement over the past week.

This week, global natural gas prices saw their highest surge on Wednesday, November 29, 2023, at 3.62 percent. Compared to the beginning of the year, prices have weakened by 31.95 percent.

The current situation is similar to previous trends, with global natural gas prices currently on a downward trend.

Over the past week, global natural gas price movements slowed by 4.94 percent, with an average daily transaction price of US$2.77 per mmbtu. Compared to the beginning of the year, global natural gas prices have fallen by 31.95 percent. From this year's highest price of US$4.17 per mmbtu, global natural gas prices have fallen by 34.95 percent.

Annually, the average trade price of global natural gas over the past five years has been on 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.

The Dutch Title Transfer Facility (TTF) is a virtual trading point for natural gas in the Netherlands. Virtually, this facility benefits a number of 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 has led European countries to scramble for supplies to store as much gas as possible to cope with winter and to seek alternative supplies.