Commodities Buzz: Marketed natural gas production in the US Lower 48 states to increase slightly in 2026

EIA stated in its Short-Term Energy Outlook that it expects the Henry Hub spot price to increase from around $3.00 per million British thermal units (MMBtu) in September to $4.10/MMBtu by January 2026, almost 50 cents/MMBtu lower than it forecast last month. It also expects the Henry Hub price to average about $3.90/MMBtu overall in 2026. Lower natural gas prices largely reflect the expectation that US natural gas production will be higher than previously forecast, leading to more natural gas in storage compared with EIA?s previous forecast. It expects marketed natural gas production in the US Lower 48 (L48) states to increase slightly in 2026 to an average of more than 118 billion cubic feet per day (Bcf/d) as growth from the three most prolific natural gas producing regions?the Appalachia, Permian, and Haynesville?is partly offset by declines from producing regions in the rest of the L48 states.

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