Natural gas prices rose by 4.5% to ₹299.6 due to a larger-than-expected storage draw, with the U.S. Energy Information Administration (EIA) reporting a withdrawal of 190 billion cubic feet from storage for the week ending December 6.
Despite the decline, storage levels remain 1.8% higher year-over-year and 4.6% above the five-year average. Gas flows to U.S. LNG export facilities averaged 14.1 bcf/day in December, while domestic production increased to 102.8 bcf/day.
However, warmer-than-usual temperatures across the U.S. through December 26 may limit heating demand and cap price gains. The U.S. entered the winter heating season with its highest natural gas storage levels since 2016, at 3,922 bcf.
