Global Natural Gas Prices Rise Towards US$2.14 per Mmbtu (Friday, August 9, 2024)
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Global natural gas prices rose on Friday, August 9, 2024. Trading today recorded US$2.14 per mmbtu, higher than the previous day's US$2.13 per mmbtu. This continues a four-day downward trend.
Over the past week, global natural gas prices grew by 5.26 percent, with an average daily transaction price of US$2.04 per mmbtu. However, in 2024, global natural gas prices have fallen by -18.86 percent from their year-start level of US$2.64 per mmbtu. Compared to this year's highest price of US$3.31 per mmbtu, prices have dropped by 35.32 percent.
Annually, the average global natural gas trading price over the past five years has been declining. Monthly, transactions over the past 12 months have shown a downward trend. The highest average monthly price for global natural gas was recorded in October 2023 at US$3.14 per mmbtu.
Earlier news from early September 2022 reported that European gas prices soared after Russia shut down the Nord Stream 1 pipeline due to newly discovered damage. The price surge was attributed to market anticipation of gas shortages ahead of winter.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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