EIA Jan. STEO Predicts HH Spot Price Avg $3.46 2026, $4.59 2027

The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook (STEO) on Tuesday. The STEO is the agency’s monthly best estimate of where energy prices and production will head over the next 12 months. The EIA published its first energy-sector forecasts through 2027. For natural gas, the EIA predicts the U.S. benchmark Henry Hub spot price to decrease about 2% to just under $3.50 per million British thermal units (MMBtu) in 2026, then rise sharply in 2027 to just under $4.60/MMBtu. The reason for the sharp increase next year? Growth in demand—led by expanding LNG exports and more natural gas consumption in the electric power sector—will outpace production growth.

---

To view this content, log into your member account. (Not a member? Join Today!)