Global Natural Gas Prices Fall to US$1.76 per Mmbtu (Friday, April 12, 2024)

Global natural gas prices for Friday, April 12, 2024, decreased. Today's trading saw natural gas prices at US$1.76 per mmbtu. This is lower than the previous day's trading, which was also US$1.76 per mmbtu. This current situation concludes a two-day upward trend in global natural gas prices.

Over the past week, the movement of global natural gas prices slowed by 4.45 percent, with an average daily transaction price of US$1.81 per mmbtu. As a result, throughout 2024, global natural gas prices have decreased by -33.4 percent from their year-start position 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 46.91 percent.

Annually, the average trading price of global natural gas over the past five years has shown a downward trend. Meanwhile, monthly price monitoring shows a decline in transactions over the past 12 months. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.14 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 discovering new damage. Gas prices skyrocketed as the market anticipated gas shortages ahead of winter.