Global Natural Gas Prices Continue to Fall Over the Past Three Days

Yahoo Finance reports that global natural gas prices today fell 0.85 percent to US$1.76 per mmbtu. This price drop is considerably higher than the average price movement over the past week.

This week, global natural gas prices saw their highest surge on Monday, April 1, 2024, reaching 4.2 percent. However, trading since the beginning of the year has continuously declined, with year-to-date growth at 33.4 percent.

The current situation is similar to the movement of global natural gas prices over the past three days, which have been on an upward trend.

Over the past week, global natural gas prices have grown by 11.68 percent, with an average daily transaction price of US$1.79 per mmbtu. Compared to the price at the beginning of the year, global natural gas prices have slowed by 33.4 percent. The highest trading value for global natural gas 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 on 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 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.