Natural gas prices are extending a move higher from earlier this week when the US Energy Information Administration’s (EIA) monthly Short-Term Energy Outlook bolstered its price forecast for the heating gas. Per the report, the average Henry Hub spot price for 2021 is $3.07/MMBtu, up from last month’s price of $3.05. The EIA cites a modest decline in natural gas’s share of electricity power generation in the US, falling to account for 36% of total energy generated in 2021 from 39% in 2020. Due to this, US natural gas consumption is anticipated to fall 0.5% to 82.9 billion cubic feet per day (Bcf/d) in 2021 from last ... (full story)