Natural gas prices rose by 5.51% to settle at ₹306.6 due to a decline in output and revised demand forecasts. Production in the Lower 48 US states dropped to 103.0 billion cubic feet per day in early May, and daily output is projected to dip further to a two-month low of 102.6 bcfd.
Gas demand is expected to average 98.8 bcfd this week, with temperatures across the Lower 48 expected to stay warmer than normal through mid-May.
U.S. utilities added 107 billion cubic feet of gas to storage on April 25, marking the largest build in two years. The U.S. Energy Information Administration forecasts record highs in gas output and demand in 2025.
