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…
Natural gas prices rose by 0.65% to ₹262, driven by forecasts for cooler weather and increased heating demand. Rising gas flows to U.S. LNG export plants also supported the market. However, gains were limited as utilities reported smaller-than-expected storage withdrawals. The U.S. Energy Information Administration reported a 30 billion cubic feet withdrawal for the week…
Natural gas prices fell by 3.39% to settle at ₹273.6, driven by easing heating demand despite colder-than-normal weather. Weather forecasts suggest a shift from colder-than-normal to near-normal levels from December 4-12, reducing the pressure on utilities to draw heavily from storage. Production levels in the U.S. remain robust, with an average of 101.4 billion cubic…
Natural gas prices rose by 2.32% to ₹278.3, driven by a smaller-than-expected inventory withdrawal and forecasts of increased demand. The U.S. Energy Information Administration reported a 2 billion cubic feet withdrawal from storage for the week ending November 22, 2024, reducing U.S. gas inventories to 3,967 bcf, 3.5% higher than last year and 7.2% above…
Natural gas prices fell by -0.75% to ₹237.5 due to increased daily production and higher-than-expected storage builds. The latest federal report showed utilities added 42 billion cubic feet of gas to storage for November 8, 2024, marking the fourth consecutive week of larger-than-usual injections. However, losses were limited by forecasts of colder weather, which is…
Natural gas prices dropped by 3.57% to ₹240.3, despite a smaller-than-expected storage injection by US utilities. Concerns over potential disruptions in US natural gas production eased as tropical storms moved away from the Gulf of Mexico. Baker Hughes reported a 3 to 102 increase in rig drilling activity. Storage injections have been at record lows,…
Natural gas prices dropped by 2.27% to ₹180.6 due to milder weather forecasts, reducing demand for gas by power generators. Despite this, output decreased, and flows to LNG export terminals increased. Gas inventories remained 12% above normal levels, as producers injected smaller amounts into storage for 15 out of 16 weeks. Gas output in the…
Natural gas prices dropped by 2.31% to 164.9 as a result of increased output and lower-than-anticipated demand next week. This drop happened despite bullish forecasts of record-breaking heat that might drive petrol use by power generators to an all-time high and a smaller-than-expected weekly storage build. Gas output in the Lower 48 states increased to…
As a result of increasing output that outweighed expectations for higher demand over the next two weeks due to projected record heat in the Lower 48 U.S. states, natural gas prices ended up down -0.46% at 172.9. Prices have been pressured by a large excess of petrol in storage, even with the expected increase in…
Citing data from the National Energy Administration, China’s natural gas consumption is anticipated to increase this year by 6.5% to 7.7% over the previous year, potentially reaching 425 billion cubic meters. This year’s production increased significantly as well. Due to state enterprises’ new field start-ups that improve domestic output, it climbed by 6% over the…
