Global natural gas prices traded at US$2.41 per Mmbtu today (Thursday, May 16, 2024).

Global natural gas prices fell on Thursday, May 16, 2024. Trading today recorded US$2.41 per mmbtu, lower than the previous day's US$2.42 per mmbtu. This is similar to the previous upward trend in global natural gas prices.

Over the past week, global natural gas prices have grown by 9.06 percent, with an average daily transaction price of US$2.33 per mmbtu. Compared to 30 days ago, global natural gas prices have grown by 35.68 percent. From its yearly high of US$3.31 per mmbtu, the price has fallen by 27.35 percent.

Annually, the average global natural gas price over the past five years shows a downward trend. Monthly, transactions over the past 12 months have also tended to decline. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.14 per mmbtu.

The Dutch Title Transfer Facility (TTF) is a virtual trading point for natural gas in the Netherlands. This virtual facility allows traders to engage in futures and physical gas trading.

Previously, Russia had reduced gas flows through the Nord Stream 1 pipeline to Germany to just 20% of total capacity. This led European countries to scramble for supplies, aiming to store as much gas as possible for the winter and seeking alternative sources.