U.S. Henry Hub natgas price forecasts, 2023 to slide to 2-year low
Jan 27 (Reuters) -U.S. natural gas prices at the Henry Hub benchmark in Louisiana will average $4.37 per million British thermal units (mmBtu) in 2023, their lowest since 2021, before falling to $4.14 in 2024, according to analyst forecasts.
That compares with a 14-year high of $6.42 per mmBtu in 2022, a 25-year low of $2.03 in 2020 due to coronavirus demand destruction and a five-year average (2018-2022) of $3.62. In 2021, gas prices averaged $3.91. nL1N33O1HO
The following lists analysts' average price estimates in mmBtu with the most recent estimates on top.
Company | 2023 | 2023 | 2024 | 2024 | 2025 | 2025 | Date of Revision |
$/mmBtu | $/mmBtu | $/mmBtu | $/mmBtu | $/mmBtu | $mmBtu | ||
Current | Previous | Current | Previous | Current | Previous | ||
Goldman Sachs | 3.75 | 4.72 | 3.37 | 3.69 | 4.58 | 4.58 | Jan 27 |
Morgan Stanley | 4.00 | 5.44 | 4.18 | 4.74 | 3.25 | 3.25 | Jan 24 |
Cowen | 4.01 | 5.26 | Jan 24 | ||||
Bank of America | 4.50 | 4.50 | Jan 24 | ||||
Piper Sandler | 5.50 | 5.50 | 4.50 | 4.50 | 4.00 | 4.00 | Jan 23 |
Jefferies | 3.99 | 5.52 | 4.16 | 4.69 | 4.00 | Jan 17 | |
RBC Capital Markets | 4.75 | 4.87 | 4.25 | 4.25 | Jan 16 | ||
U.S. EIA | 4.90 | 5.43 | 4.80 | Jan 10 | |||
Mizuho | 3.93 | 3.75 | 4.25 | Jan 10 |
FACTBOX-U.S. Henry Hub natgas prices rise to seven-year high in 2021nL1N2TJ0ZU
Reporting by Scott DiSavino
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