Natural gas prices fell by 2.53% to settle at ₹285.3 due to rising production levels and forecasts for mild weather. Output in the Lower 48 US states has averaged 106.3 billion cubic feet per day, just above the previous monthly record. Daily output hit an all-time high of 107.4 bcfd, affecting prices.
Weather forecasts suggest warmer-than-usual conditions through April 29, likely to suppress heating demand. U.S. utilities added 57 billion cubic feet of gas to inventories for the week ending April 4, slightly below market expectations.
Storage levels are now 19.7% lower than last year and 2.1% below the five-year average, indicating a tighter supply balance. Liquefied natural gas exports reached a record 16.3 bcfd in April, with U.S. gas production and consumption expected to reach record highs in 2025.
