Henry Hub price level and curve, June 2026 - EIA’s more recent STEO-based summaries and secondary write‑ups indicate Henry Hub is expected to average “just under $3.50/MMBtu” in 2026 overall, with a modest drop from 2025 then a sharp rise in 2027. - A May 2026 benchmark synthesis (using the May 2026 STEO) reports EIA’s projected 2026 Henry Hub average at $3.50/MMBtu, with 2027 at $3.18/MMBtu in that specific vintage of the outlook. - Earlier EIA vintages and trade‑press summaries had higher 2026 projections ($4.00–4.41/MMBtu) before subsequent downward revisions as storage remained comfortable
Henry Hub price level and curve, June 2026 - EIA’s more recent STEO-based summaries and secondary write‑ups indicate Henry Hub is expected to average “just under $3.50/MMBtu” in 2026 overall, with a modest drop from 2025 then a sharp rise in 2027. - A May 2026 benchmark synthesis (using the May 2026 STEO) reports EIA’s projected 2026 Henry Hub average at $3.50/MMBtu, with 2027 at $3.18/MMBtu in that specific vintage of the outlook.
- Earlier EIA vintages and trade‑press summaries had higher 2026 projections ($4.00–4.41/MMBtu) before subsequent downward revisions as storage remained comfortable and production expectations edged higher. Implied June 2026 price context - Futures strip and quarterly profiles show a typical seasonal pattern: lower prices in the shoulder months (spring/early summer) and a winter premium. For example, a March 2026 futures strip had April 2026 near $3.03/MMBtu and December 2026 near $4.70/MMBtu.
- EIA quarterly profiles from earlier STEO vintages showed Q2 2026 around the mid‑$3s ($3.69–3.76/MMBtu), rising toward $4.3–5.0/MMBtu by Q4 2026 as winter sets in. - Taken together, these point to a base‑case Henry Hub range in early summer 2026 (including June) broadly around low‑ to mid‑$3s/MMBtu, barring abnormal weather or major shocks, with the forward curve still upward‑sloping into winter. Supply outlook mid‑2026 - EIA expects U.S.
marketed gas production to continue growing through 2026, averaging ~120.6 Bcf/d in 2026 and 123.9 Bcf/d in 2027, led by
Procurement teams should maintain flexible sourcing strategies for Natural Gas given the evolving market dynamics. Monitor supply-side developments, inventory trends, and demand signals from end-use sectors. Consider layered hedging against price volatility and diversify supplier exposure to manage risk.