A cold January weather forecast and strong demand for LNG exports helped natural gas prices rise 1.08% to ₹318.6. LNG exports hit 15.16 billion cubic feet per day (bcfd) on rising global demand, while production rose to 103.3 bcfd in December from 101.5 bcfd in November. According to LSEG, demand in the Lower 48 states is forecast to increase to 144.4 bcfd next week from 118.9 bcfd this week.
In the week ended December 20, the U.S. Energy Information Administration (EIA) reported 93 bcf of removals from storage, lower than the 99 bcf the market had expected. Storage levels are 4.9% above the five-year average and 0.4% above the previous year, indicating strong supply despite rising demand. According to the EIA, U.S. natural gas output will decline to 103.2 bcfd in 2024,
