EIA slashes Henry Hub forecast on mild weather and growing supply

Friday, 03 March 2023

As gas prices dwindle in a mild winter, the US Energy Information Administration has slashed its 2023 Henry Hub spot price forecast to $3.40/MMBtu on average, down almost 50% from last year. Record dry gas production and delays with the restart of Freeport LNG have caused a supply overhang, with inventories above the five-year average. 

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