Global natural gas prices traded at US$1.76 per Mmbtu today (Friday, April 5, 2024)

Yahoo Finance reports that global natural gas prices today fell 0.85 percent to US$1.76 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 1, 2024, reaching 4.2 percent. However, trading since the beginning of the year has continuously declined, with year-to-date (YTD) growth at -33.4 percent.

The current situation is similar to the upward trend in global natural gas prices over the past three days.

Over the past week, global natural gas prices grew by 11.68 percent, with an average daily transaction price of US$1.79 per mmbtu. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), global natural gas prices have fallen by 33.4 percent. From its highest price this year of US$3.31 per mmbtu, the global natural gas price has fallen by 46.91 percent.

Annually, the average trading price of global natural gas over the past five years has been on a downward trend. Meanwhile, monthly price monitoring shows that transactions over the past 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.

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 soared as the market anticipated gas shortages ahead of winter.