US Henry Hub natgas price forecasts, 2024 to fall to 4-year low
Aug 27 (Reuters) -U.S. natural gas prices at the Henry Hub benchmark in Louisiana will average $2.44 per million British thermal units (mmBtu) in 2024, their lowest since 2020, before rising to $3.43 in 2025, according to analyst forecasts.
That compares with a three-year low of $2.54 per mmBtu in 2023, a 14-year high of $6.42 in 2022, a 25-year low of $2.03 in 2020 due to coronavirus demand destruction and a five-year average (2019-2023) of $3.49. HH/GAS
The following lists analysts' average price estimates in mmBtu with the most recent estimates on top.
Company | 2024 | 2024 | 2025 | 2025 | 2026 | 2026 | Date of Revision |
$/mmBtu | $/mmBtu | $/mmBtu | $mmBtu | $mmBtu | $mmBtu | ||
Current | Previous | Current | Previous | Current | Previous | ||
Piper Sandler | 2.30 | 2.42 | 3.00 | 3.50 | 3.25 | 4.00 | Aug 27 |
U.S. EIA | 2.49 | 3.29 | Aug 6 | ||||
RBC Capital Markets | 2.45 | 2.45 | 3.13 | 3.13 | 3.50 | Jul 29 | |
Bank of America | 2.40 | 2.40 | 3.33 | 3.33 | Jul 26 | ||
Jefferies | 2.50 | 2.39 | 3.50 | 3.50 | 4.00 | 4.00 | Jul 15 |
Tudor Pickering Holt & Co | <2.50 | 4.00 | >4.00 | Jun 24 | |||
Mizuho | 2.50 | 2.50 | 3.75 | 3.75 | 3.50 | 3.50 | May 28 |
Morningstar DBRS | 2.50 | 3.50 | 3.25 | 3.50 | 3.50 | May 2 | |
Barclays | 2.50 | 3.50 | 3.75 | Apr 10 | |||
Morgan Stanley | 2.38 | 2.89 | 3.42 | 3.63 | 3.25 | 3.25 | Mar 28 |
Reporting by Scott DiSavino
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