Onyx Power and Gas Consulting
- The Henry Hub natural gas spot price averaged $2.69/million British thermal units (MMBtu) in February, down 42 cents/MMBtu from January. EIA expects strong growth in U.S. natural gas production to put downward pressure on prices in 2019. EIA expects Henry Hub natural gas spot prices will average $2.85/MMBtu in 2019, down 30 cents/MMBtu from 2018. NYMEX futures and options contract values for June 2019 delivery traded during the five-day period ending March 7, 2019, suggest a range of $2.40/MMBtu to $3.51/MMBtu encompasses the market expectation for June 2019 Henry Hub natural gas prices at the 95% confidence level.
- EIA forecasts that dry natural gas production will average 90.7 billion cubic feet per day (Bcf/d) in 2019, up 7.4 Bcf/d from 2018. EIA expects natural gas production will continue to rise in 2020 to an average of 92.0 Bcf/d.
- EIA expects natural gas inventories will end March at 1.2 trillion cubic feet (Tcf), which would be 14% lower than levels from a year earlier and 28% lower than the five-year (2014–18) average. EIA forecasts that natural gas storage injections will outpace the previous five-year average during the April-through-October injection season and that inventories will reach 3.6 Tcf at the end of October, which would be 12% higher than October 2018 levels and 2% below the five-year average.
The professional consultants at Onyx Power & Gas Consulting are always ahead of the current issues that may affect energy consumption and pricing. Now is the time to partner with an Onyx professional consultant to discuss energy management and secure energy prices based on today’s stable pricing. Volatility in the energy markets makes it too precarious to take chances. Partner with Onyx Power & Gas in Making Energy Make a Difference!