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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATGAS
EIA revised down its forecast for US Henry Hub gas prices for this year after significantly warmer-than-normal weather and less-than-normal consumption in January pushed inventories above the five-year average according to the February short-term energy outlook released yesterday.
- The US Henry Hub gas prices is forecast to average 3.40$/MMBtu in 2023, down from previous estimates of 4.90$/MMBtu and down almost 50% from last year.
- Forecasts suggest an average price of 4.04$/MMBtu for 2024 down from the previous forecast of 4.80$/MMBtu.
- They expect prices to remain very volatile. Extreme weather events and production freeze-offs could still potentially cause price spikes at both the Henry Hub and in regional markets.
- A new record dry natural gas production in the US is estimated at 100.2 Bcf/d in January and production is expected to average between 100 Bcf/d and 101 Bcf/d in 2023.
- Natural gas demand is expected to be lower in 2023 due to more renewable electric generation and a decrease in industrial sector demand from a drop in manufacturing activity.
Source: EIA
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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