Nov. EIA STEO Slashes Prediction for NatGas to $6/MMBtu in 4Q

Once a month, the analysts at the U.S. Energy Information Administration (EIA) grab the official Henry Hub pricing dart board and play a quick game to determine what price they will predict for the average Henry Hub spot price for natural gas for the rest of this year, and an average price for all of next year. Two months ago (in September), EIA predicted in its Short-Term Energy Outlook (STEO) that the Henry Hub average price for natural gas in the fourth quarter of this year would hit $9/MMBtu, and the average for all of 2023 would be around $6/MMBtu (see Sept. EIA STEO Predicts $9 NatGas in 4Q22, $6 NatGas for 2023). The darts were flung again last week and this time landed on $6/MMBtu for 4Q22 and $5.46 for 2023.

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