Controversy

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Will U.S. Natural Gas Average More Than $3.50 per MMBtu in 2026?

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Claims

Last Updated 6 hours ago

Federal Reserve Bank of Dallas"Survey participants foresee a Henry Hub natural gas price of $3.36 per million British thermal units (MMBtu) at year-end 2026."Jul 26, 2026

Dallasfed

Bank of America"Bank of America raised its second-half 2026 Henry Hub natural gas price forecast to $3.8 per million British thermal units from $3.6 previously, citing tight supply balances and the risk of gas inventories entering winter below 3.8 trillion cubic feet."Jul 26, 2026

Investing

Haynes Boone“The average 2026 natural gas forecast was $3.16/MMBTU, only modestly lower than the Fall 2025 survey average of $3.43/MMBTU.”Jun 02, 2026

Haynes Boone

American Gas Association“The Henry Hub futures price currently averages $3.26 per MMBtu for contracts through the end of 2026, with the December 2026 contract trading above $4.”May 15, 2026

American Gas Association

BMO Financial Group"We have trimmed our Henry Hub gas projection by 25 cents to $3.75/mmbtu for 2026 but have kept it at $3.50 in 2027."Jul 27, 2026

Economics

Alberta Energy Regulator"As tariffs come off in 2026, the Henry Hub price is anticipated to increase to $3.50/MMBtu, reaching $4.37/MMBtu by 2034, 4.8% lower than the base case forecast."Jun 25, 2025

Alberta Energy Regulator

S&P Global"We also lowered our Henry Hub price assumption to $3.50/million British thermal units (mmBtu) for 2026 and 2027."Jul 27, 2026

Spglobal

FactSet"On pricing, 2026 Henry Hub expectations hover around $3.50/MMBtu, which should help incentivize adequate production levels."Jan 09, 2026

Insight

U.S. Energy Information Administration (EIA)"The Henry Hub spot price averages close to $3.70 per million British thermal units (MMBtu) in 2026 before declining below $3.50/MMBtu next year."Jul 17, 2026

U.S. Energy Information Administration (EIA)

EBC Financial Group"Around $3.50 to $4.00/MMBtu on average."Mar 17, 2026

EBC Financial Group

GLJ Ltd.“GLJ forecasts the 2026 full-year NYMEX Henry Hub natural gas price at $3.29 per MMBtu.”Jul 26, 2026

Gljpc

McDaniel“McDaniel’s July 2026 price forecast implies that Henry Hub natural gas will average approximately $3.68 per MMBtu in 2026.”Jul 01, 2026

Mcdan

Goldman Sachs"We expect 2026/27 U.S. gas prices to incentivize U.S. gas production growth at $4.60/$3.80/mmBtu."Jul 27, 2026

Goldmansachs

FXEmpire"We don’t foresee any extended rally until there is a sustained move over the 200-day moving average at $4.273."Jan 14, 2026

FX Empire

“In the very near-term, we favor our Q2 low-to-middle scenario range ($2.76-3.25/MMBtu) before giving way to our mid-to-high annual scenario range later this year (at or above $3.51/MMBtu).”Jul 17, 2026

Exchangerates

Fitch Ratings“Fitch kept its 2026 Henry Hub base-case price assumption unchanged at $3.50/mcf [approximately $3.38/MMBtu, assuming 1 Mcf equals 1.037 MMBtu].”Jul 27, 2026