EIA forecast

U.S. Propane Prices Spike as Europe, Asia Compete for Tight Supplies

U.S. Propane Prices Spike as Europe, Asia Compete for Tight Supplies

Wholesale propane prices at the main U.S. natural gas liquids (NGL) hub have reached their highest level in more than seven years amid tight global supply and strong demand, according to the latest government figures. The Energy Information Administration (EIA) said wholesale propane prices at Mont Belvieu, TX, increased to an average of $1.33/gal during…

September 28, 2021
EIA’s Henry Hub Forecast Jumps 20 Cents as Power Sector Not Switching NatGas for Coal

EIA’s Henry Hub Forecast Jumps 20 Cents as Power Sector Not Switching NatGas for Coal

Following surging natural gas prices in July, the Energy Information Administration (EIA) tacked on 20 cents to its expected 2021 average Henry Hub spot price in updated projections published Tuesday. In the latest edition of its Short-Term Energy Outlook (STEO), the agency said it now expects Henry Hub spot prices to average $3.42/MMBtu for all…

August 10, 2021
Ending Slide, Seven Key U.S. Onshore Regions to Raise Natural Gas Output in July, EIA Says

Ending Slide, Seven Key U.S. Onshore Regions to Raise Natural Gas Output in July, EIA Says

Breaking from a prolonged downtrend that dates back to before the Covid-19 pandemic, natural gas output from seven key U.S. onshore regions is poised to grow from June to July, according to updated modeling from the Energy Information Administration (EIA). Natural gas production from the Anadarko, Appalachia and Permian basins, as well as from the…

June 15, 2021
Brent Oil Prices to Decline into 2022 as Global Production Escalates, Says EIA

Brent Oil Prices to Decline into 2022 as Global Production Escalates, Says EIA

Brent prices are forecast to average $68/bbl in 3Q2021 before production worldwide begins to escalate, sending the average price down to around $60/bbl in 2022, the Energy Information Administration (EIA) said Tuesday. In the Short-Term Energy Outlook, researchers noted that Brent averaged $68/bbl in May, a 25% uptick from January. “In the coming months, we…

June 8, 2021
Despite Lower Demand, U.S. Natural Gas Market Expected to ‘Net Grow’

Despite Lower Demand, U.S. Natural Gas Market Expected to ‘Net Grow’

Natural gas isn’t going anywhere soon and overall demand for U.S. gas will keep growing on the back of rising exports, according to Mercuria Energy Co.’s Charles Blanchard. Blanchard, head of North American natural gas research, recently published an exhaustive study on the history of natural gas in the United States called, “The Extraction State.”…

April 20, 2021
May Natural Gas Futures Extend Rally as LNG Holds Strong, Cash Prices Climb

May Natural Gas Futures Extend Rally as LNG Holds Strong, Cash Prices Climb

Natural gas futures advanced again Tuesday as robust liquefied natural gas (LNG) levels fueled demand optimism and a dose of chilly weather bolstered cash prices.   The May Nymex contract climbed 5.8 cents day/day and settled at $2.619/MMBtu – the fifth straight day of gains. June rose 5.3 cents to $2.696. NGI’s Spot Gas National Avg.…

April 13, 2021
2020 Cuts to U.S. Oil Production Steepest on Record, Driven by Pandemic and Hurricanes, EIA Says

2020 Cuts to U.S. Oil Production Steepest on Record, Driven by Pandemic and Hurricanes, EIA Says

Domestic crude oil production in 2020 dropped 8% from the prior year in response to the demand hits caused by the coronavirus pandemic, the U.S. Energy Information Administration (EIA) said Tuesday. A record hurricane season further complicated matters.  The 935,000 b/d decline to an average 11.3 million b/d last year marked the steepest annual decrease…

March 9, 2021
EIA Raises 2021 Natural Gas Price Forecast to $3.14, Up Nearly 20 Cents After Record February Withdrawal

EIA Raises 2021 Natural Gas Price Forecast to $3.14, Up Nearly 20 Cents After Record February Withdrawal

In the wake of last month’s record-high natural gas prices in the physical market, the Energy Information Administration (EIA) is raising its projected 2021 Henry Hub spot price average to $3.14/MMBtu. The updated projection, issued on Tuesday as part of the agency’s latest Short-Term Energy Outlook (STEO), is nearly 20 cents higher than the $2.95…

March 9, 2021
Touch of Warmth in Forecasts Gives Natural Gas Bears ‘Ammunition’ in Price Pullback; Cash Mixed

Touch of Warmth in Forecasts Gives Natural Gas Bears ‘Ammunition’ in Price Pullback; Cash Mixed

After hinting at some weakness earlier in the week, natural gas futures moved decidedly lower on Tuesday as traders realized they may have given Punxsutawney Phil a little too much credit. With the brutal cold circulating through the Lower 48 seen fading before month’s end and a more seasonal pattern in store thereafter, the March…

February 9, 2021
Oil Consumption to Rebound in 2021, but Pandemic Lurks as Wildcard, EIA Says

Oil Consumption to Rebound in 2021, but Pandemic Lurks as Wildcard, EIA Says

Oil consumption will rise in 2021 alongside a global economic recovery and increased travel, though demand this year is not likely to match the levels prior to the pandemic, the U.S. Energy Information Administration (EIA) said. In a supplement to its monthly Short-Term Energy Outlook (STEO) report, the agency forecast global oil consumption would gather…

February 9, 2021
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