EIA raises November natural gas storage forecast after warm start to month

10 Nov 2026 | 17:15 GMT The US Energy Information Administration (EIA) expects almost 70 billion cubic feet more natural gas to be in US storage at the end of November than it forecast in October. A warm start to the month is easing pressure on natural gas prices. In its November Short-Term Energy Outlook (STEO), EIA forecasts more US natural gas in storage throughout this winter, resulting in the Henry Hub natural gas spot price averaging $2.87 per million British thermal units from November through March, 16% less over that period than forecast last month. Other key takeaways from the November STEO are below. Brent crude oil prices. EIA forecasts Brent crude oil spot prices will average $104 per barrel (b) in November and $99/b in December, with Brent averaging $86/b in 2027 as more oil flows from the Middle East and global oil inventories rebuild. Continued shipping disruptions could cause short-term price swings. Gasoline and diesel prices. EIA expects US retail gasoline and diesel prices to fall in 2027. EIA raised both forecasts from October because it now expects global supplies of refined fuels to remain tight through the end of 2027. EIA forecasts that diesel will average