Indian Natural Gas Prices Edge Higher Amid Stronger Demand Forecasts

Natural gas prices in India edged higher by 0.68% to settle at ₹264.6 on July 31, supported by a smaller-than-expected U.S. storage build and improved demand forecasts.

The U.S. Energy Information Administration (EIA) reported that natural gas storage increased by 28 billion cubic feet (bcf) during the week ended July 24, below market expectations of a 35 bcf injection.

Total working gas in storage rose to 3.084 trillion cubic feet, standing 1% below year-ago levels but 6.4% above the five-year seasonal average, indicating that supply conditions remain adequate despite stronger seasonal demand.