Global Natural Gas Prices Rise to US$2.34 per Mmbtu (Thursday, July 11, 2024)

Global natural gas prices rose in transactions on Thursday, July 11, 2024, reaching US$2.34 per mmbtu. This is higher than the previous day's price of US$2.33 per mmbtu. This current situation contrasts with the recent downward trend in global natural gas prices over the past day.

Over the past week, global natural gas prices have grown by -3.94 percent, with an average daily transaction price of US$2.35 per mmbtu. As a result, throughout 2024, global natural gas prices have decreased by -11.44 percent from their year-start position of US$2.64 per mmbtu. Compared to its highest price this year of US$3.31 per mmbtu, the global natural gas price has fallen by 29.4 percent.

Annually, the average trading price of global natural gas over the past five years has shown a downward trend. Meanwhile, monthly price monitoring shows a contraction 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.

Previously, news of threatened gas shortages deepened concerns about the risk of recession in countries dependent on the fuel for industry and power generation, including the UK and the European Union.