Global Natural Gas Prices Fall to US$2.84 per Mmbtu (Tuesday, November 21, 2023)

Global natural gas prices for transactions on Tuesday, November 21, 2023, decreased. Today's global natural gas price trading was recorded at US$2.84 per mmbtu. This figure is lower than the previous day's trading, which stood at US$2.88 per mmbtu. The current situation is similar to the movement of global natural gas prices over the past five days, which have been in a downward trend.

Over the past week, the movement of global natural gas prices has slowed by 11.04 percent, with an average daily transaction price of US$3 per mmbtu. Compared to its position 30 days ago, the movement of global natural gas prices has slowed by 7.63 percent. From its highest price this year at US$4.17 per mmbtu, the global natural gas price has fallen by 31.83 percent.

Annually, the average trading price of global natural gas over the past five years has been in an upward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to decrease. The highest average monthly price of global natural gas was recorded in December 2022 at US$5.77 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.