Global Natural Gas Prices Rise to US$2.79 per Mmbtu (Wednesday, August 9, 2023)

Global natural gas prices rose on Wednesday, August 9, 2023, trading at US$2.79 per mmbtu. This is higher than the previous day's trading price of US$2.78 per mmbtu. This current condition mirrors the upward trend observed over the past five days.

Over the past week, global natural gas prices have increased by 5.88 percent, with an average daily trading price of US$2.64 per mmbtu. Compared to the beginning of the year, however, prices have decreased by 31.51 percent. The highest trading price for this commodity this year was US$4.11 per mmbtu, recorded on Thursday, January 5, 2023.

The average annual global natural gas trading price has shown an upward trend over the past five years. However, monthly trading prices over the past 12 months have shown a downward trend. The highest average monthly price was recorded in September 2022 at US$7.85 per mmbtu.

Previously, news of potential gas shortages deepened concerns about the risk of recession in countries heavily reliant on natural gas for industry and power generation, including the UK and the European Union.