Global Natural Gas Prices Traded at US$2.08 per Mmbtu This Afternoon (Friday, February 2, 2024)

Global natural gas prices rose in Friday, February 2nd, 2024 transactions, reaching US$2.08 per mmbtu. This is higher than the previous day's trading price of US$2.05 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 slowed by 19.14 percent, with an average daily transaction price of US$2.31 per mmbtu. As a result, throughout 2024, global natural gas prices have fallen 21.28 percent from their year-opening level of US$2.64 per mmbtu. Compared to this year's highest price of US$3.31 per mmbtu, global natural gas prices have fallen by 37.25 percent.

Annually, the average global natural gas trading price over the past five years has shown an upward trend. Meanwhile, monthly price monitoring shows an upward trend in transactions over the past 12 months. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.16 per mmbtu.

Previously, news of gas shortages deepened concerns about the risk of recession in countries dependent on this fuel for industry and power generation, including the UK and the European Union.