On March 7, the U.S. Energy Information Administration (EIA) released its updated "Short-Term Energy Outlook." Among the observations are the following:

• Natural gas prices. "The Henry Hub natural gas spot price in our forecast averages about $3 per million British thermal units (MMBtu) in 2023, down by more than 50% from last year."
• Natural gas storage. "As a result of less natural gas consumption than we had expected, we forecast that the United States will close the withdrawal season at the end of March with more than 1.9 trillion cubic feet of natural gas in storage, 23% more than the five-year average and 27% more than we forecast in the January STEO."

Look for the report online here: https://www.eia.gov/outlooks/steo/