EIA Cuts Gas Price Forecast

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The US Energy Information Administration (EIA) further cut its first-quarter and full-year 2023 gas price forecasts this week, citing a mild winter that has allowed storage inventories to surge. The EIA now expects first-quarter Henry Hub prices to average $2.70/MMBtu, down from its February forecast of $3.13/MMBtu. It projects a 2023 average of $3.02/MMBtu, down from $3.40/MMBtu last month and more than a 50% decline from 2022’s average.

Gas Demand, Gas Supply, Gas Prices, Gas Inventories
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