The U.S. Energy Information Administration (EIA) is cutting its projected average Henry Hub natural gas spot price to $2.20/ MMBtu for 2024, down 5.2% from the $2.30 average price the agency modeled a month earlier. In the April release of its Short-Term Energy Outlook (STEO), published...
to average $89 per barrel in the second half of 2024 and $91 in the first quarter of 2025. Those average prices are up from the average of $84 per barrel for the first half of this year. The price increase largely comes from EIA’s forecast of declining global crude oil ...
For crude the news was better: the EIA-revised forecast bumped WTI crude price up by $2.14/bbl after OPEC’s decision to cut oil production from May through the end of 2023 in early April. Henry Hub natural gas prices are expected to average $2.94 per million British thermal unit ...
"After reviewing the responsiveness of fossil fuel generation to natural gas prices, we now expect more power generation from coal and less from natural gas than we did in our previous forecast, especially during the winter," EIA said. The agency projected spot natural gas ...
The U.S. Energy Information Administration (EIA) is slashing its projected 2024 average Henry Hub natural gas spot price by 14% versus its month-earlier forecast after observing record lows for the benchmark in February, the agency said Tuesday. EIA, in its latest Short-Term Energy Outlook (...
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EIA Lowers 2023 Natural Gas Price Outlook By 30% The U.S. Energy Information Administration lowered>The EIA now sees the 2023 natural gas price at Henry Hub at $3.40 per MMBtu, down from $4.90 per MMBtu in its previous forecast.
EIA increased its Brent crude oil price forecast for 2022 by nearly 11% in its February STEO update. “Petroleum production has been slow to catch up with consumption, which has prevented oil prices from moderating,” said EIA Acting Administrator Steve Nalley. “Market concerns about oil product...
Daily Gas Price Index Natural Gas Prices January 03, 2025 Expectations for widespread frigid air through much of January powered a rally in Northeast natural gas forward prices, though momentum proved elusive in other regions. Natural Gas Futures Slip After ‘Lowball’ Storage Withd...
EIA forecasts that U.S. production of dry natural gas will average 91.4 Bcf/d in 2021, which is about the same as the 2020 average. In our forecast, dry natural gas production falls to a low point of 90.8 Bcf/d in May 2021 before steadily increasing through most of the remainder ...