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EIA Predicting $8.59 Henry Hub for Last Six Months as Storage Struggles to Catch Up

EIA Predicting $8.59 Henry Hub for Last Six Months as Storage Struggles to Catch Up

With storage levels expected to lag behind the five-year average this summer, Henry Hub natural gas spot prices will soar to $8.59/MMBtu on average in the second half of this year, according to updated forecasting from the Energy Information Administration (EIA). Henry Hub prices are forecast to average $7.83 for the second quarter after averaging…

May 10, 2022
War in Ukraine Clouds EIA’s Latest Oil, Natural Gas Price Outlook

War in Ukraine Clouds EIA’s Latest Oil, Natural Gas Price Outlook

Brent crude oil prices will average $116/bbl in the second quarter, and Henry Hub spot natural gas prices will average $3.83/MMBtu over the same period, though events in Ukraine have clouded the outlook, according to the Energy Information Administration (EIA). In the March edition of its Short-Term Energy Outlook (STEO), the agency predicted a falling…

March 16, 2022
U.S. LNG Exports on Track to Increase 16% in 2022, EIA Says in Short-Term Energy Outlook

U.S. LNG Exports on Track to Increase 16% in 2022, EIA Says in Short-Term Energy Outlook

Natural gas spot prices at Henry Hub are set to average $4.70/MMBtu in February, according to updated projections from the Energy Information Administration (EIA), though the agency cautioned that its forecast is subject to weather uncertainty. Spot prices at the national benchmark averaged $4.38 in January, an increase above average prices of $3.76 in December,…

February 14, 2022
Brent Crude Prices to Average $87 in February Before Declining Later in 2022, EIA Predicts

Brent Crude Prices to Average $87 in February Before Declining Later in 2022, EIA Predicts

Amid continuing draws on inventories, global Brent crude oil prices are on track to average $90/bbl this month before declining later in 2022 on production growth domestically and abroad, according to updated modeling from the Energy Information Administration (EIA). Brent crude oil spot prices rose $12 month/month to average $87 in January, EIA said in…

February 9, 2022
EIA Forecasts Rising U.S. Natural Gas Exports

EIA Forecasts Rising U.S. Natural Gas Exports

In updated forecasting stretching to 2023, the Energy Information Administration (EIA) last week laid out a vision of rising natural gas production and exports alongside moderating U.S. prices. Natural gas spot prices at Henry Hub averaged $3.91/MMBtu for 2021, the agency said in its latest Short-Term Energy Outlook. This year and next should bring slightly…

January 19, 2022
Global Oil Forecast to Average $75 in 2022 as Consumption Grows

Global Oil Forecast to Average $75 in 2022 as Consumption Grows

Brent crude oil prices are set to average $75/bbl in 2022, up from $71 in 2021, as the world is on track to increase its consumption of liquid fuels over the next two years, according to updated projections from the Energy Information Administration (EIA). The world consumed 96.9 million b/d on average in 2021, a…

January 12, 2022
Against Backdrop of Omicron Worries, EIA Predicts $71 Brent for December

Against Backdrop of Omicron Worries, EIA Predicts $71 Brent for December

As the recent discovery of the Covid-19 Omicron variant has renewed concerns about a potential decline in consumption, Brent crude oil spot prices are set to average $71/bbl in December and $73 through the first quarter of 2022, according to updated projections from the Energy Information Administration (EIA). In an updated forecast published Tuesday as…

December 8, 2021
Winter Heating Costs for U.S. Natural Gas Expected to Rise Sharply

Winter Heating Costs for U.S. Natural Gas Expected to Rise Sharply

American households can expect significant increases in home heating costs this winter, including a 30% increase in natural gas expenditures versus last winter, according to the U.S. Energy Information Administration (EIA). The agency said as part of its latest Short-Term Energy Outlook (STEO) that it expects a 3% increase in average U.S. heating degree days…

October 19, 2021
EIA Predicts Big Increases in Winter Heating Costs as Prices Rise for Natural Gas, Other Fuels

EIA Predicts Big Increases in Winter Heating Costs as Prices Rise for Natural Gas, Other Fuels

American households can expect significant increases in home heating costs this winter, including a 30% increase in natural gas expenditures versus last winter, the U.S. Energy Information Administration (EIA) said Wednesday. The agency said as part of its latest Short-Term Energy Outlook (STEO) that it expects a 3% increase in average U.S. heating degree days…

October 13, 2021
June Brought the Heat, Prompting 14-cent Gain in EIA’s 2021 Henry Hub Natural Gas Price

June Brought the Heat, Prompting 14-cent Gain in EIA’s 2021 Henry Hub Natural Gas Price

After June brought higher cooling demand and a widening storage deficit, the Energy Information Administration (EIA) said it is raising its projected average Henry Hub natural gas spot price to $3.21/MMBtu for 2021. The latest price forecast, published in the July edition of the agency’s Short-Term Energy Outlook (STEO), represents a 14-cent increase over the…

July 7, 2021
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