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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
U.S. Natural Gas Prices Expected to Rise in 2021, 2022 on Growing Exports

U.S. Natural Gas Prices Expected to Rise in 2021, 2022 on Growing Exports

U.S. natural gas prices are expected to increase in 2021 and 2022 compared to the record lows of last year, driven mainly by a boom in liquefied natural gas (LNG) exports and domestic consumption, according to the Energy Information Administration (EIA). The EIA forecast 2021 Henry Hub spot prices to average $3.07/MMBtu this year in…

June 23, 2021
EIA’s Forecast Henry Hub Price Climbs for 2021; U.S. Crude Output to Grow in 2022

EIA’s Forecast Henry Hub Price Climbs for 2021; U.S. Crude Output to Grow in 2022

The Energy Information Administration (EIA) said this week that it’s raising its expected average 2021 Henry Hub natural gas spot price to $3.07/MMBtu, which would come in more than $1 above the $2.03 average recorded in 2020. In the June edition of its Short-Term Energy Outlook issued Tuesday, the agency said it expects the average…

June 9, 2021
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
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