Henry Hub natural gas spot prices are set to remain subdued at around $2.40/MMBtu in February and March amid unusually mild weather, the U.S. Energy Information Administration (EIA) said in an updated forecast Tuesday.

In its latest Short-Term Energy Outlook (STEO), EIA said it expects Henry Hub spot prices to average $2.650 for full-year 2024, up from $2.540 in 2023. Prices then would approach $3.000 on average in 2025, according to the STEO.

The updated STEO prices for this year and next are flat versus the month-earlier forecast.

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