Global Natural Gas Prices Rise to US$1.76 per Mmbtu (Thursday, March 28, 2024)

Global natural gas prices rose in transactions on Thursday, March 28, 2024. Today's global natural gas price trading was recorded at US$1.76 per mmbtu. This figure is higher than the previous day's trading, which stood at US$1.72 per mmbtu. This current situation completes the downward trend in global natural gas prices over the past two days.

Over the past week, global natural gas prices have grown by 1.09 percent, with an average daily transaction price of US$1.67 per mmbtu. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), global natural gas prices have fallen by 33.24 percent. Indeed, from its highest price this year of US$3.31 per mmbtu, the global natural gas price has fallen by 46.79 percent.

Annually, the average global natural gas price trading over the past five years has been in a downward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to decline. The highest average monthly price for global natural gas commodities was recorded in October 2023 at US$3.14 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.