Global Natural Gas Prices Continue to Fall Over the Past Five Days
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Global natural gas prices fell on Monday, July 29, 2024. Trading today recorded US$1.86 per mmbtu, lower than the previous day's US$2.01 per mmbtu. This reflects a downward trend observed over the past five days.
Over the past week, global natural gas prices have decreased by 12.47 percent, with an average daily transaction price of US$2.08 per mmbtu. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), global natural gas prices have fallen by 29.57 percent. The highest trading value for this commodity this year was US$3.31 per mmbtu, recorded on Friday, January 12, 2024.
Annually, the average trading price of global natural gas over the past five years shows a downward trend. Monthly price monitoring over the past 12 months indicates a decline. The highest average monthly price was recorded in October 2023 at US$3.14 per mmbtu.
Russia has used its control over gas supplies to pressure European countries in retaliation for sanctions imposed following its invasion of Ukraine. The Russian state-owned gas company, Gazprom, shut down the Nord Stream 1 pipeline.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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