U.S. energy bankers expect to see “sustained increases” in global natural gas and oil prices – at a higher level than predicted earlier this year.

According to the Fall 2022 Energy Price Deck Survey of 23 energy bank executives that was conducted in October by Haynes and Boone LLC, the forecasts showed significantly increased near-term prices relative to a comparable poll last spring. 

The mean Henry Hub base case for natural gas in calendar year 2022 increased to $5.21/MMBtu compared to last spring’s $3.63 estimate. For West Texas Intermediate oil, the mean base case rose to $71.52/bbl from $67.34.

[Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

“These increases are consistent...