Oil and gas executives, surveyed in the Dallas Fed Energy Survey, predict Henry Hub natural gas prices will be $3.71/MMBtu in 6 months, $3.98/MMBtu in a year, $4.30/MMBtu in two years, and $4.83/MMBtu in five years.
These forecasts are higher than those from the previous quarter.In the fourth quarter Dallas Fed Energy Survey, executives predicted Henry Hub gas prices to be $2.97/MMBtu in six months, $3.28/MMBtu in a year, $3.63/MMBtu in two years, and $4.16/MMBtu in five years.In the latest survey, executives from 127 oil and gas firms predicted the Henry Hub natural gas price to be $3.78/MMBtu by the end of 2025, with a range from $2.00 to $5.25/MMBtu.
The previous survey, from 128 executives, forecasted $3.19/MMBtu for the same period, with a range of $2.00 to $4.80/MMBtu. The current spot price is $4.10/MMBtu.Enverus Intelligence Research (EIR) raised its 2025 NYMEX Henry Hub gas price forecast to $3.90/MMBtu, citing a faster ramp-up of the Plaquemines LNG facility and favorable weather.
Despite this increase, the forecast remains about 30 cents below the current forward price. Meanwhile, J.P. Morgan’s research expects U.S. Henry Hub prices to average $3.53/MMBtu in 2025 and $3.23/MMBtu in 2026.BMI forecasts the Henry Hub natural gas price to average $3.40/MMBtu in 2025 and $3.80/MMBtu in 2026.
The Dallas Fed Energy Survey, conducted quarterly, assesses energy activity in the Eleventh District. EIR focuses on research in the energy sector, while BMI, a unit of Fitch Solutions, supports investors and strategists. J.P. Morgan is a global financial services firm with $3.9 trillion in assets.
