Global Natural Gas Prices Traded at US$2.58 per Mmbtu This Afternoon (Thursday, December 21, 2023)

Yahoo Finance reports that global natural gas prices rose 5.48 percent today, reaching US$2.58 per mmbtu. However, this increase remains below the average price movement over the past week.

Yesterday, global natural gas prices saw their highest jump on Thursday, December 21, 2023, at 5.48 percent. Compared to the beginning of the year, prices have weakened by 35.28 percent.

The current situation is similar to previous trends, with global natural gas prices showing a declining tendency.

Over the past week, global natural gas prices grew by 10.54 percent, with an average daily transaction price of US$2.49 per mmbtu. Compared to 30 days ago, the price movement has slowed by 15.71 percent. The highest trading value for global natural gas this year was US$4.17 per mmbtu, recorded on Wednesday, January 4, 2023.

Year-on-year, the average trading price of global natural gas over the past five years has shown an upward trend. Meanwhile, monthly price monitoring over the past 12 months indicates an upward trend. The highest average monthly price for global natural gas was recorded in January 2023 at US$3.43 per mmbtu.

The Dutch Title Transfer Facility (TTF) is a virtual trading point for natural gas in the Netherlands. 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 only 20% of total capacity. This led European countries to scramble for supplies, aiming to store as much gas as possible for the winter and seeking alternative sources.