Global natural gas prices traded at US$3.15 per Mmbtu today (Thursday, January 11, 2024).

Yahoo Finance reports that global natural gas prices rose 3.59 percent today, reaching US$3.15 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, January 9, 2024, at 7.05 percent. This represents a 19.2 percent increase compared to the beginning of the year.

The current situation is similar to previous movements in global natural gas prices, which are currently on an upward trend.

Over the past week, global natural gas prices grew by 17.99 percent, with an average daily transaction price of US$2.99 per mmbtu. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), global natural gas prices have risen by 19.2 percent. Even from its highest price this year at US$3.19 per mmbtu, the global natural gas price has fallen by 1.32 percent.

Annually, the average trading price of global natural gas over the past five years has been on an upward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to increase. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.16 per mmbtu.

The Dutch Title Transfer Facility (TTF) is a virtual trading point for natural gas in the Netherlands. Virtually, this facility benefits several 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.