Natural gas prices dropped by 3.42%, closing at ₹299.3, mainly due to weaker demand forecasts for the next couple of weeks. Part of the decline is also because of reduced supply to key LNG export terminals, which are undergoing routine maintenance. So far in May, average LNG feedgas demand has slipped to 15.1 billion cubic feet per day, down from April’s record of 16.0 bcfd. The slowdown is especially noticeable at Cameron LNG in Louisiana and Cheniere’s Corpus Christi facility in Texas, where flows dropped to a two-month low of 1.5 bcfd.
Even with this short-term dip, the U.S. Energy Information Administration (EIA) remains optimistic about the months ahead. They expect prices to climb, thanks to rising LNG exports and increased electricity use during the warmer season. The U.S. continues to lead the world in LNG exports, with strong global demand supporting the market. In terms of storage, U.S. utilities added 104 billion cubic feet of gas in the week ending May 2, pushing total stockpiles to 2,145 Bcf. That’s 16.1% below where it was this time last year but still 1.4% above the five-year average—so inventories remain steady. The EIA also sees both gas production and usage hitting record highs in 2025, with output expected to reach 104.9 bcfd.
On the technical side, fresh selling pressure has emerged, with open interest climbing 8.02% to 14,072. Key support is at ₹295.3, and if that breaks, prices could slip further to ₹291.4. On the upside, resistance sits at ₹305.8—breaking above that might open the door to a move up to ₹312.4.
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