EIA Raises 2021 Natural Gas Price Forecast to $3.14, Up Nearly 20 Cents After Record February Withdrawal

In the wake of last month’s record-high natural gas prices in the physical market, the Energy Information Administration (EIA) is raising its projected 2021 Henry Hub spot price average to $3.14/MMBtu.

The updated projection, issued on Tuesday as part of the agency’s latest Short-Term Energy Outlook (STEO), is nearly 20 cents higher than the $2.95 average…