US Henry Hub natgas price forecasts, 2024 to fall to 4-year low
Nov 5 (Reuters) -U.S. natural gas prices at the Henry Hub benchmark in Louisiana will average $2.32 per million British thermal units (mmBtu) in 2024, their lowest since 2020, before rising to $3.32 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 | 2.29 | 2.29 | 3.00 | 3.00 | 3.25 | 3.25 | Nov 5 |
Jefferies | 2.30 | 2.30 | 3.00 | 3.00 | 4.00 | 4.00 | Oct 31 |
BNP Paribas | 2.40 | 3.70 | 5.60 | Oct 23 | |||
Bank of America | 2.40 | 2.40 | 3.33 | 3.33 | Oct 22 | ||
Mizuho | 2.33 | 2.33 | 3.50 | 3.50 | 3.25 | 3.25 | Oct 21 |
Morgan Stanley | 2.21 | 3.17 | 3.75 | Oct 16 | |||
RBC Capital Markets | 2.19 | 2.19 | 3.20 | 3.13 | 3.25 | Oct 10 | |
U.S. EIA | 2.28 | 2.19 | 3.06 | 3.14 | Oct 8 | ||
Tudor Pickering Holt & Co | <2.50 | 4.00 | >4.00 | Jun 24 | |||
Morningstar DBRS | 2.50 | 3.50 | 3.25 | 3.50 | 3.50 | May 2 |
Reporting by Scott DiSavino
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