India's liquefied natural gas (LNG) importers have recently accelerated their purchases from the spot market, capitalizing on a decline in prices that have dropped below $16 per million British thermal units. Key players, including Bharat Petroleum Corp. and Gail India Ltd., secured shipments for delivery between April and June, reversing a trend where Indian buyers had previously limited spot purchases due to soaring costs. The geopolitical crisis in West Asia, particularly the effective closure of the Strait of Hormuz and attacks on a major LNG export facility in Qatar, has significantly disrupted global LNG supplies, leading to a 14% decrease in deliveries to India compared to the same period last year. Although spot prices had risen sharply to around $25 per million Btu following the onset of the conflict, they have now fallen to the lowest level in over a month, although they remain about 50% higher than pre-war levels. The Indian Oil Corp. also canceled a purchase tender that was set to close on April 15, indicating ongoing volatility in the market.