# EIA forecasts lower wholesale U.S. natural gas prices in 2023 and 2024

> The EIA's January Short-Term Energy Outlook forecasts Henry Hub spot gas averaging $4.90/MMBtu in 2023, over $1.50 below 2022, and roughly flat in 2024. Record production growth is expected to outpace demand and exports, though Q1 2023 prices may near $5 on winter demand and the return of Freeport LNG.

- Date: 2023-02-01 · published 2023-02-01T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/37942-eia-forecasts-lower-wholesale-u-s-natural-gas-prices-in-2023-and-2024
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Lower projected gas prices reduce energy and nitrogen fertilizer costs, supporting lower processing and input costs for feed; the Freeport restart is a near-term upside risk.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2024-07-18 | [IEA Forecasts Lagging LNG Demand, Further Global Natural Gas Price Slides Through 2024](https://feedsoft.ai/events/29454-iea-forecasts-lagging-lng-demand-further-global-natural-gas-price-slides.md) | +2.5% | +9.6% |
| NATGAS | 2018-02-01 | [EIA expects 2018 and 2019 natural gas prices to remain relatively flat](https://feedsoft.ai/events/67161-eia-expects-2018-and-2019-natural-gas-prices-to-remain-relatively-flat.md) | -14.0% | -15.1% |
| NATGAS | 2023-03-09 | [EIA Further Slashes Henry Hub Natural Gas Forecast After Record-Warmth in January, February](https://feedsoft.ai/events/37038-eia-further-slashes-henry-hub-natural-gas-forecast-after-record-warmth-in.md) | -3.2% | -14.4% |
| NATGAS | 2018-01-09 | [EIA Slashes 2018 Henry Hub NatGas Price Forecast to $2.88/MMBtu](https://feedsoft.ai/events/7024-eia-slashes-2018-henry-hub-natgas-price-forecast-to-2-88-mmbtu.md) | +44.4% | -3.8% |
| NATGAS | 2023-03-09 | [EIA expects US natural gas consumption to fall 2.4% in 2023 \| Oil & Gas Journal](https://feedsoft.ai/events/37036-eia-expects-us-natural-gas-consumption-to-fall-2-4-in-2023-oil-and-gas-journal.md) | -3.2% | -14.4% |

## Sources

- eia.gov: https://www.eia.gov/todayinenergy/detail.php?id=55219

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.