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LNG Exports Help Drive Up EIA’s U.S. Natural Gas Prices Forecast

LNG Exports Help Drive Up EIA’s U.S. Natural Gas Prices Forecast

On the strength of exports and domestic consumption, natural gas spot prices at Henry Hub are expected to average $2.78/MMBtu in the second quarter and $3.05 for 2021 overall, the U.S. Energy Information Administration (EIA) said Tuesday. The updated projections, published in the May edition of the agency’s Short-Term Energy Outlook, represent a modest increase…

May 12, 2021
EIA Forecasts Dramatic Increase in 2021 Henry Hub Prices

EIA Forecasts Dramatic Increase in 2021 Henry Hub Prices

Henry Hub natural gas spot prices are set to average $2.73/MMBtu during the second quarter of 2021 and should average $3.04 for the year, a dramatic increase over 2020 prices, according to updated projections from the U.S. Energy Information Administration (EIA). Spot prices at the national benchmark averaged $2.62 in March, EIA said in the…

April 8, 2021
EIA Raises Henry Hub NatGas Forecast to $3.14; Brent Pegged at $65-70 for March and April

EIA Raises Henry Hub NatGas Forecast to $3.14; Brent Pegged at $65-70 for March and April

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 10, 2021
Henry Hub to Rebound, Oil to Move Higher in 2021, EIA Says

Henry Hub to Rebound, Oil to Move Higher in 2021, EIA Says

Natural gas prices are poised to rebound in 2021, with Henry Hub spot prices on track to average $3.01/MMBtu for the year, nearly $1 higher than 2020 prices, according to updated projections from the U.S. Energy Information Administration (EIA). In its first Short-Term Energy Outlook of the new year, published Tuesday, the agency offered up…

January 13, 2021
EIA Slashes January Natural Gas Spot Price Forecast to $3.10 on Lack of Withdrawals, Warm Temps

EIA Slashes January Natural Gas Spot Price Forecast to $3.10 on Lack of Withdrawals, Warm Temps

With stockpiles higher than previously expected as winter temperatures have thus far deviated to the warmer side of normal, the U.S. Energy Information Administration (EIA) is slashing its forecast for average January natural gas spot prices to $3.10/MMBtu, down from $3.42 predicted a month ago. The updated forecast for benchmark Henry Hub, published Tuesday in…

December 8, 2020
U.S. Crude Output Fell in August; Brent Poised to Average $47/bbl in 2021, EIA Says

U.S. Crude Output Fell in August; Brent Poised to Average $47/bbl in 2021, EIA Says

High global oil inventory levels and surplus production capacity will keep Brent crude prices near $40/bbl through the end of the year, with prices expected to climb to an average $47/bbl in 2021, according to a recent forecast from the Energy Information Administration (EIA). According to the agency’s latest Short-Term Energy Outlook (STEO), published Tuesday,…

November 11, 2020
U.S. Oil Production Recovers Ground but Existing Well Declines Remain a Drag, Says EIA

U.S. Oil Production Recovers Ground but Existing Well Declines Remain a Drag, Says EIA

U.S. crude oil production rebounded in September, though researchers anticipate new declines in the coming months. Oil production climbed to an estimated 11.2 million b/d in September from 10.8 million b/d in August, the Energy Information Administration (EIA) said in the latest Short-Term Energy Outlook (STEO). Production averaged 11.0 million b/d in July, up 0.5…

October 7, 2020
U.S. Natural Gas Prices to Average $3.13 in 2021, as Demand Mounts, Says EIA

U.S. Natural Gas Prices to Average $3.13 in 2021, as Demand Mounts, Says EIA

Increased domestic and international demand for natural gas as winter weather settles in, combined with continued light production levels, will drive Henry Hub spot prices to a monthly average of $3.38/MMBtu in January, the Energy Information Administration (EIA) said Tuesday. In the latest Short-Term Energy Outlook (STEO), the agency said it expects monthly average spot…

October 6, 2020
U.S. Natural Gas Prices to Average $3.40 in January as Domestic, Overseas Demand Climbs, Says EIA

U.S. Natural Gas Prices to Average $3.40 in January as Domestic, Overseas Demand Climbs, Says EIA

Demand for natural gas is likely to increase domestically and overseas heading into the winter, while production stagnates, pushing Henry Hub spot prices to an average of $3.40/MMBtu in January, the Energy Information Administration (EIA) said Wednesday. In the latest Short-Term Energy Outlook (STEO), forecasters said monthly average spot prices should “remain higher than $3.00/MMBtu…

September 9, 2020
Winter Demand, Slumping Production to Boost Henry Hub Prices in Coming Months, Says EIA

Winter Demand, Slumping Production to Boost Henry Hub Prices in Coming Months, Says EIA

Rising demand for natural gas heading into winter months, combined with reduced production, is likely to put upward pressure on prices, lifting the total 2020 Henry Hub spot price average to $2.03/MMBtu, with 2021 expected to average $3.14/MMBtu, according to the Energy Information Administration (EIA). That 2020 estimate, which is included in a Short-Term Energy…

August 11, 2020
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