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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteThe U.S. Energy Information Administration (EIA) forecasts an average Henry Hub spot price of $3.48 per million British thermal units (MMBtu) in 2026 and $3.16/MMBtu in 2027. That annual comparison does not mean prices are expected to fall steadily: EIA projects a 2027 monthly low of $2.60/MMBtu in April and May, followed by $3.90/MMBtu in December. These are U.S. wholesale benchmark forecasts, not predictions for every regional hub, utility tariff, or household gas bill. EIA Short-Term Energy Outlook
What is the natural gas price forecast for 2027?
EIA’s 2026 Short-Term Energy Outlook puts the 2027 annual average Henry Hub spot price at $3.16/MMBtu, 32 cents—or 9%—below its $3.48/MMBtu forecast for 2026. These are forecast annual averages in nominal dollars, not guaranteed prices or a prediction for any particular day. EIA Short-Term Energy Outlook
The year-over-year decrease is affected by an unusually high month in the comparison: EIA reports a January 2026 Henry Hub average of $7.72/MMBtu after Winter Storm Fern. For February through December, EIA forecasts an average of $3.09/MMBtu in both 2026 and 2027. So its lower 2027 annual average is not a forecast of a continuing monthly slide.
How does EIA expect prices to move during 2027?
EIA’s monthly forecast has prices easing into spring before rising toward year-end. The figures below are monthly averages, not daily prices. EIA Short-Term Energy Outlook
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| 2027 period | Forecast Henry Hub price |
|---|---|
| April | $2.60/MMBtu |
| May | $2.60/MMBtu |
| December | $3.90/MMBtu |
The annual average and the monthly path answer different questions: the annual figure summarizes the year, while the monthly estimates show EIA’s expected seasonal variation. The outlook is a baseline that can change as weather, supply, demand, and storage estimates change.
What is supporting EIA’s forecast?
EIA’s outlook balances growing production and demand against inventories that are projected to remain ample relative to the recent five-year average for most forecast months. Its annual estimates are:
| U.S. measure | 2026 EIA forecast | 2027 EIA forecast |
|---|---|---|
| Dry natural-gas production | 112.20 Bcf/d | 116.13 Bcf/d |
| Natural-gas consumption | 92.37 Bcf/d | 93.83 Bcf/d |
| LNG exports | 17.6 Bcf/d | 18.6 Bcf/d |
All figures are annual estimates from EIA’s 2026 outlook; Bcf/d means billion cubic feet per day. Production growth is forecast to supply increased LNG exports as well as domestic demand growth. In EIA’s view, inventories above the rolling five-year average in most forecast months limit upward price pressure. EIA Short-Term Energy Outlook
How much does storage and winter weather matter?
EIA estimates working gas inventories stood at 3,523 billion cubic feet (Bcf) at the end of September 2026. It forecasts a 328 Bcf build in October, ending that month at 3,850 Bcf—2% above the five-year average at the start of the heating season. The agency says inventories could continue building into mid-November, depending on conditions. EIA Short-Term Energy Outlook
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The outlook assumes national heating degree days this winter will be nearly unchanged from last winter and 1% below the previous five-winter average. Storage can cushion higher consumption or lower production, but it cannot eliminate weather risk. EIA cautions: “However, prolonged periods of cold weather could increase withdrawals beyond our forecast.” EIA Short-Term Energy Outlook
Why can the forecast change?
A forecast is a dated estimate, not a fixed price path. Changes in production, LNG feedgas demand, weather, and storage can alter the expected supply-demand balance. EIA’s August 2026 outlook, for example, lowered its near-term price forecast, citing reduced LNG feedgas demand and record natural-gas production; it expected inventories to be at their highest level heading into winter since 2016. That was an earlier forecast vintage, not the current point estimate. EIA August 2026 Short-Term Energy Outlook
Forecasts can also be revised as inventory estimates change. EIA’s September outlook projected October 31 inventories of 3,969 Bcf, 5% above the 2021–2025 average. Its later outlook revised that to 3,850 Bcf, 2% above its comparison average. Those figures are estimates from different releases, not simultaneous readings. EIA September 2026 Short-Term Energy Outlook EIA later outlook
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Does the Henry Hub forecast predict your gas bill?
No. Henry Hub is a U.S. wholesale benchmark. A household’s retail bill depends on its local utility’s rates and billing rules, which can include costs beyond the wholesale commodity price. Regional gas hubs may also trade at different prices. Use the EIA forecast to understand one important national benchmark, not as a direct estimate of a specific home’s bill.
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