TRIGGER MCX Natural Gas has fallen 3.31% to ₹259.70/mmBtu as Henry Hub retreated to $3.12/mmBtu, signaling US storage building above seasonal norms during the tail end of injection season.
PRICE ₹259.70/mmBtu · –3.31% · PLUNGING
SIGNAL Henry Hub below $3.12 historically correlates with above-normal US gas storage levels relative to 5-year averages; mild weather forecasts across the US Northeast through late October are suppressing heating demand expectations ahead of withdrawal season (November), reducing urgency for early LNG cargo activations.
TWIST MCX Nat Gas is testing the 20-day support floor of ₹258 for the first time this week — historically, sub-$3.15 Henry Hub has triggered a 2–3 week consolidation before reversal, but the 15.52% gap to the ₹300 round number suggests downside room if storage data next Thursday (EIA report) prints above-seasonal again.
CROSS-ASSET MCX Silver has simultaneously declined 2.21% to ₹195,496/kg while USD/INR holds steady at ₹94.82, indicating the move is commodity-specific (gas supply) rather than broad risk-off or rupee depreciation.
TECHNICAL MCX Nat Gas has broken below intraday resistance at ₹263 and sits at the day-range midpoint; the ₹258 support (week/month floor) has been tested once and held; a close below ₹258 would confirm a fresh 20-day low.
WATCH EIA weekly natural gas storage report (Thursday 8:30 PM IST, 30 October 2026) — if Bcf draw prints 50+ Bcf below 5-year seasonal average, expect further Henry Hub weakness to $2.95–$3.00 range, dragging MCX toward ₹245–₹250.