US EIA raises Q3 2021 Henry Hub spot gas price forecast 49 cents to $3.71/MMBtu

The US Energy Information Administration Aug. 10 raised its forecast for third-quarter 2021 Henry Hub natural gas spot prices 49 cents to $3.71/MMBtu.

The Q4 forecast also rose 31 cents from the previous month's estimates to $3.46/MMBtu.

In its August Short-Term Energy Outlook, the agency projected Henry Hub natural gas prices would average $3.42/MMBtu for full-year 2021 and $3.08/MMBtu in 2022, up from the previous month's estimates of $3.22/MMBtu in 2021 and $3/MMBtu in 2022.

EIA lowered by 0.43 Bcf/d to 101 Bcf/d its natural gas marketed production estimate for the US in Q4. The agency also lowered its Q3 output forecast by 0.23 Bcf/d to 100.53 Bcf/d.

The agency raised its natural gas consumption estimates by 0.99 Bcf/d to 73.15 Bcf/d for Q3, and by 0.17 Bcf/d to 86.33 Bcf/d for Q4.