Global Natural Gas Prices Traded at US$2.58 per Mmbtu Today (Thursday, December 7, 2023)

Global natural gas prices rose in transactions on Thursday, December 7, 2023, reaching US$2.58 per mmbtu. This is higher than the previous day's trading price of US$2.57 per mmbtu. This current situation is similar to the previous trend of declining global natural gas prices.

Over the past week, the movement of global natural gas prices slowed by 7.81 percent, with an average daily transaction price of US$2.7 per mmbtu. As a result, throughout 2023, global natural gas prices have fallen by 35.18 percent from their year-start level of US$3.99 per mmbtu. The highest trading value for global natural gas commodities this year was US$4.17 per mmbtu, recorded on Wednesday, January 4, 2023.

Annually, the average trading price of global natural gas over the past five years has shown an upward trend. Meanwhile, monthly price monitoring over the past 12 months shows an upward trend. The highest average monthly price for global natural gas commodities was recorded in January 2023 at US$3.43 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 soared as the market anticipated gas shortages ahead of winter.