Global natural gas prices traded at US$2.46 per Mmbtu today (Monday, January 29, 2024).

Yahoo Finance reports that the global natural gas price today fell 7.93 percent to US$2.46 per mmbtu. This price drop is significantly higher than the average price movement over the past week.

This week, the global natural gas price saw its highest surge on Monday, January 29, 2024, at 7.93 percent. However, trading since the beginning of the year has shown a continuous decline, with year-to-date growth at 6.82 percent.

The current situation continues the downward trend in global natural gas prices observed over the past two days.

Over the past week, the global natural gas price movement slowed by 2.3 percent, with an average daily transaction price of US$2.56 per mmbtu. Compared to the price at the beginning of the year, the global natural gas price has slowed by 6.82 percent. The highest trading value for global natural gas 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 has shown an upward trend. Meanwhile, monthly price monitoring shows an upward trend in transactions over the past 12 months. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.16 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.