EIA’s STEO Predicts Henry Hub Gas Price to Avg $8.69 in 3Q22

Each month the U.S. Energy Information Administration (EIA) issues a monthly Short-Term Energy Outlook (STEO). Last month, in May, the STEO made the startling prediction that the average Henry Hub price for natural gas (the national benchmark) would hit $8.13 for 3Q22 and $8.59 for the entire second half of this year (see Latest Monthly STEO Predicts HH Spot Price to Avg $8.59 in 2H22). With prices now well over $9 and heading for $10, that prediction doesn't seem so startling anymore. Yesterday the EIA issued the June STEO with a revised prediction that in the third quarter of this year the average HH price will hit $8.69, up from the $8.13 it had predicted just one month ago.

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