Global Natural Gas Prices Fall to US$2.17 per Mmbtu (Tuesday, August 13, 2024)

Yahoo Finance reports that global natural gas prices today fell 0.87 percent to US$2.17 per mmbtu. This price drop is considerably higher than the average price movement over the past week.

This week, global natural gas prices saw their highest surge on Monday, August 12, 2024, reaching 2.15 percent. Compared to the beginning of the year, prices have weakened by 17.83 percent.

The current situation is similar to the movement of global natural gas prices in the last 24 hours, which is currently in a downward trend.

Over the past week, global natural gas prices have grown by 10.32 percent, with an average daily transaction price of US$2.1 per mmbtu. Compared to the position 30 days ago, global natural gas prices have grown by -10.88 percent. The highest trading value for global natural gas commodities this year was recorded at US$3.31 per mmbtu, which occurred on Friday, January 12, 2024.

Annually, the average trading price of global natural gas over the past five years has been in a downward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to decline. The highest average monthly price for global natural gas commodities 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.