Global natural gas prices traded at US$1.73 per Mmbtu today (Monday, April 1, 2024)

Yahoo Finance reports that global natural gas prices today fell 1.64 percent to US$1.73 per mmbtu. This price drop is significantly higher than the average price movement over the past week.

Today's price movement represents the highest daily percentage drop in the last week at 1.64 percent. However, trading since the beginning of the year has shown a continuous decline, with year-to-date (YTD) growth at -34.34 percent.

The current situation mirrors previous trends showing a shrinking global natural gas price.

Over the past week, global natural gas prices grew by 2.06 percent, with an average daily transaction price of US$1.68 per mmbtu. Compared to the beginning of the year, global natural gas prices have fallen by 34.34 percent. The highest trading value for this commodity this year was US$3.31 per mmbtu, recorded on Friday, January 12, 2024.

Annually, the average trading price of global natural gas over the past five years has been declining. Monthly price monitoring over the past 12 months also shows a downward trend. The highest average monthly price was recorded in October 2023 at US$3.14 per mmbtu.

Russia has used its control over gas supplies to pressure European countries in retaliation for sanctions imposed following its invasion of Ukraine. The Russian state-owned gas company, Gazprom, shut down the Nord Stream 1 pipeline.