Global Natural Gas Prices Fall to US$2.46 per Mmbtu (Monday, January 29, 2024)

Yahoo Finance reports that global natural gas prices 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.

Global natural gas prices saw their highest surge this week on Monday, January 29, 2024, reaching 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 confirms the downward trend in global natural gas prices over the past two days.

Over the past week, global natural gas price movements slowed by 2.3 percent, with an average daily transaction price of US$2.56 per mmbtu. Compared to its position 30 days ago, the global natural gas price has grown by 0.57 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.

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.