Global natural gas prices traded at US$2.67 per Mmbtu today (Sunday, January 28, 2024)

Global natural gas prices for transactions on Sunday, January 28, 2024, decreased. Today's global natural gas price trading was recorded at US$2.67 per mmbtu. This figure is lower than the previous day's trading, which stood at US$2.71 per mmbtu. The current situation is similar to the previous trend of declining global natural gas prices.

Over the past week, the movement of global natural gas prices slowed by 0.89 percent, with an average daily transaction price of US$2.57 per mmbtu. Compared to the price at the beginning of the year, the global natural gas price has grown by 1.21 percent. From its highest price this year of US$3.31 per mmbtu, the global natural gas price has fallen by 19.32 percent.

Annually, the average trading price of global natural gas has been on an upward trend over the past five years. 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 a number of 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 caused European countries to scramble for supplies to store as much gas as possible to cope with winter, and to seek alternative supplies.