The EIA's February Short-Term Energy Outlook raised its 2025 average Henry Hub natural gas price forecast to $3.80 per MMBtu from a prior estimate, following a cold end to January. Natural gas consumption ran 12% above the five-year average for the month, and inventory withdrawals were above average.
The EIA left most other forecasts largely unchanged.
A higher Henry Hub forecast signals tighter gas supply relative to demand, which supports feed-industry energy and fertilizer input costs and can lift the cost of natural-gas-linked products.
After 74 past bullish report events, Natural Gas moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.