Global Natural Gas Prices Rise to US$2.93 per Mmbtu (Thursday, November 23, 2023)

Global natural gas prices rose in transactions on Thursday, November 23, 2023, reaching US$2.93 per mmbtu. This is higher than the previous day's trading price of US$2.9 per mmbtu. This current condition completes the natural gas price movement over the past two days, which has been in a downward trend.

Over the past week, global natural gas prices have slowed by 8.28 percent, with an average daily transaction price of US$2.93 per mmbtu. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), global natural gas prices have fallen by 26.63 percent. Compared to this year's highest price of US$4.17 per mmbtu, global natural gas prices have dropped by 29.87 percent.

Annually, 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 shows a downward trend. The highest average monthly price for global natural gas was recorded in December 2022 at US$5.77 per mmbtu.

Previously, news of a potential gas shortage deepened concerns about the risk of recession in countries dependent on the fuel for industry and power generation, including the UK and the European Union.