Global Natural Gas Price Traded at US$3.37 per Mmbtu This Afternoon (Thursday, October 12, 2023)

Global natural gas prices for transactions on Thursday, October 12, 2023, decreased. Today's trading saw natural gas prices at US$3.37 per mmbtu. This is lower than the previous day's trading price of US$3.38 per mmbtu. This current condition completes the upward trend in global natural gas prices over the past two days.

Over the past week, global natural gas prices have grown by 14.34 percent, with an average daily transaction price of US$3.28 per mmbtu. Compared to the beginning of the year, global natural gas prices have slowed by 15.45 percent. Furthermore, from its highest price this year of US$4.17 per mmbtu, the global natural gas price has fallen by 19.18 percent.

Annually, the average trading 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 decrease. The highest average monthly price for global natural gas was recorded in November 2022 at US$6.46 per mmbtu.

Previous 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.