Global natural gas prices traded at US$2.9 per Mmbtu today (Monday, January 8, 2024)

Yahoo Finance reports that global natural gas prices rose 0.94 percent today, reaching US$2.9 per mmbtu. This increase is significantly higher than the average price movement over the past week.

Yesterday, global natural gas prices saw their highest jump on Monday, January 8, 2024, at 0.94 percent. This represents a 9.73 percent increase compared to the beginning of the year.

The current situation mirrors the previous upward trend in global natural gas prices.

Over the past week, global natural gas prices have grown by 15.27 percent, with an average daily transaction price of US$2.77 per mmbtu. Compared to the price 30 days ago, global natural gas prices have increased by 2.99 percent. The current trading price of natural gas is the highest reached this year.

Annually, the average trading price of global natural gas over the past five years shows an upward trend. Meanwhile, monthly price monitoring shows an upward trend 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.

The Dutch Title Transfer Facility (TTF) is a virtual trading point for natural gas in the Netherlands. Virtually, this facility benefits several 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 has led European countries to scramble for supplies to store as much gas as possible to cope with winter and to seek alternative supplies.