Global Natural Gas Price Traded at US$2.62 per Mmbtu This Afternoon (Wednesday, December 27, 2023)

Global natural gas prices rose on Wednesday, December 27, 2023, trading at US$2.62 per mmbtu. This is higher than the previous day's price of US$2.55 per mmbtu. This increase follows two days of declining prices.

Over the past week, global natural gas prices have risen by 4.71 percent, with an average daily transaction price of US$2.54 per mmbtu. Compared to 30 days ago, prices have decreased by 7.91 percent. The highest price this year was US$4.17 per mmbtu, recorded on Wednesday, January 4, 2023.

The average annual natural gas price has shown an upward trend over the past five years. Monthly prices over the past 12 months have also generally increased, reaching a high of US$3.43 per mmbtu in January 2023.

The Title Transfer Facility (TTF) in the Netherlands is a virtual trading hub for natural gas. This virtual facility allows traders to engage in futures and physical gas trading.

Previously, Russia reduced gas flows through the Nord Stream 1 pipeline to Germany to just 20% of capacity. This led European countries to scramble for supplies, maximizing gas storage for the winter and seeking alternative sources.