EIA Slashes 2023/24 NatGas Price Prediction in June STEO Report

Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. Last month the EIA predicted an average price at the Henry Hub of $2.91/MMBtu for 2023, and $3.72/MMBtu for 2024 (see U.S. NatGas Production to Hit Record High in 2023, Demand to Fall). The June STEO, issued earlier this week, lowers both of those projections once again--trimming the 2023 number by 8.8% and the 2024 number by 8%.

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