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US EIA lowers 2018 Henry Hub spot gas price forecast by 2 cents to $2.99/MMBtu

Washington (Platts)--12 Jun 2018 428 pm EDT/2028 GMT


The US Energy Information Administration Tuesday raised by 1.17 Bcf/d to 87.35 Bcf/d its second-quarter natural gas marketed production estimate for the US. EIA, in its June Short-Term Energy Outlook, also raised its Q3 marketed production forecast by 1.09 Bcf/d to 88.22 Bcf/d. The agency raised its natural gas consumption estimates by 0.83 Bcf/d to 69.95 Bcf/d for Q2, and by 0.36 Bcf/d to 69.54 Bcf/d for Q3.

EIA lowered its forecast for Q2 Henry Hub natural gas spot prices 1 cent to $2.84/MMBtu. The Q3 forecast also dropped 1 cent from the previous month to $3.01/MMBtu.

The agency projected Henry Hub natural gas prices would average $2.99/MMBtu for the full year and $3.08/MMBtu in 2019.

--Kate Winston, kate.winston@spglobal.com
--Edited by Valarie Jackson, newsdesk@spglobal.com

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