BAKU, Azerbaijan, October 8. The U.S. Energy Information Administration (EIA) expects natural gas prices to climb through early 2026, supported by seasonal demand but tempered by higher production and robust storage levels, Trend reports.
In its latest outlook, the EIA projects the Henry Hub spot price to rise from about $3.00 per million British thermal units (MMBtu) in September to $4.10/MMBtu by January 2026. Despite the increase, the forecast is nearly 50 cents lower than last month’s estimate. The agency now expects prices to average around $3.90/MMBtu in 2026.
The lower price outlook reflects an upward revision to U.S. natural gas production, which is expected to outpace earlier forecasts and lead to larger inventories heading into winter. Above-average storage injections since late August have further strengthened supply levels.
According to the EIA, U.S. natural gas inventories are projected to reach nearly 3,980 billion cubic feet (Bcf) by the end of the injection season - about 5% above the five-year average and roughly 70 Bcf higher than previously anticipated. Assuming near-normal temperatures, storage levels are expected to remain elevated through winter, ending the withdrawal season on March 31 at around 1,990 Bcf, 8% above the five-year average.
