US gas takes new steps after Iran decision

Natural gas prices in the US fell sharply on October 28, after Israel launched limited attacks on Iran and Tehran decided not to retaliate.

Natural gas prices in the US suddenly dropped sharply. (Source: Reuters)

Natural gas prices in the US fell sharply by 11% to $2.284 per million British thermal units (MMBtu) in the trading session on October 28.

Gas production from the Lower 48 states averaged 102.8 billion cubic feet per day (Bcf/d) last weekend, near the summer peak of 103 Bcf/d and about 2 Bcf/d above the fall low.

The US Energy Information Administration (EIA) predicts that natural gas prices will decrease in 2024.

In its October 2024 short-term energy outlook, EIA forecasts that the average natural gas price at Henry Hub - a natural gas pipeline located in Erath, Louisiana (USA) - will reach $2.28/MMBtu in 2024 and $3.06/MMBtu next year.

On a quarterly basis, EIA forecasts that the average price at Henry Hub will reach $2.81/MMBtu in the fourth quarter of 2024 and $3.16/MMBtu in the first quarter of 2025, then decline slightly in the second quarter and increase to $3.35/MMBtu in the final quarter of the year.

Source: https://baoquocte.vn/khi-dot-my-co-buoc-di-moi-sau-quyet-dinh-cua-iran-291805.html