The U.S. Energy Information Administration (EIA) expects the benchmark Henry Hub spot price to average about $2.25 per million British thermal units (MMBtu) in 2024, a 10% decrease from 2023 and a 65% decrease from 2022. In its March Short-Term Energy Outlook (STEO), EIA forecasts that U.S. natural gas inventories will be more than 30% higher than average at the end of the winter season following relatively low winter demand.