The U.S. Energy Information Administration (EIA) is projecting a Henry Hub natural gas spot price average at $2.20/MMBtu for 2024, unchanged from the average price the agency modeled a month earlier. 

In the May release of its Short-Term Energy Outlook (STEO), published Tuesday, EIA said it expects Henry Hub spot prices to average $3.10 for full-year 2025, creating an incentive for more drilling in dry natural gas production regions.

After starting the year at $2.560, NGI’s Henry Hub next-day natural gas cash price dropped to $1.435 by the end of March. Prices have since recovered some ground, but remain well below year-ago levels around $2, according to NGI’s Daily Historical Data.

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