Global Natural Gas Prices Fall for Four Consecutive Days
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Yahoo Finance reports that the global natural gas price today fell 1.51 percent to US$2.02 per mmbtu. This price drop is considerably higher than the average price movement over the past week.
Global natural gas prices saw their highest surge this week on Monday, August 19, 2024, rising 5.28 percent. However, it is down 23.44 percent compared to its year-to-date position.
The current situation completes a four-day upward trend in global natural gas prices.
Over the past week, global natural gas prices have grown by -8.88 percent, with an average daily transaction price of US$2.14 per mmbtu. Compared to the beginning of the year, global natural gas prices have grown by -23.44 percent. The highest trading value for global natural gas this year was US$3.31 per mmbtu, recorded on Friday, January 12, 2024.
Year-on-year, the average trading price of global natural gas over the past five years has been declining. Meanwhile, monthly price monitoring shows a downward trend in transactions over the past 12 months. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.14 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 newly discovered damage. Gas prices skyrocketed as the market anticipated gas shortages ahead of winter.
"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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