Global Natural Gas Prices Traded at US$2.57 per Mmbtu Today (Tuesday, December 19, 2023)

Global natural gas prices rose on Tuesday, December 19, 2023, trading at US$2.57 per mmbtu. This is higher than the previous day's price of US$2.50 per mmbtu. This current situation is similar to previous trends showing a shrinking global natural gas price.

Over the past week, global natural gas prices have grown by 5.55 percent, with an average daily transaction price of US$2.45 per mmbtu. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), global natural gas prices have decreased by -35.66 percent. The highest trading value for this commodity this year was US$4.17 per mmbtu, recorded on Wednesday, January 4, 2023.

Annually, the average global natural gas price over the past five years has shown an upward trend. Meanwhile, monthly price monitoring over the past 12 months shows an upward trend. The highest average monthly price for global natural gas was recorded in January 2023 at US$3.43 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 surged as the market anticipated gas shortages ahead of winter.