EIA slashes price forecast for natural gas amid warmer weather

by Jeff Della Rosa (JDellaRosa@nwabj.com)

U.S. natural gas price projections have been lowered as a warmer-than-average start to 2023 has reduced natural gas consumption to below-average levels, according to the U.S. Energy Information Administration (EIA). The projection reflects a nearly 30% price cut from January expectations.

The EIA released Tuesday (Feb. 7) the February Short-Term Energy Outlook that shows natural gas prices at the Henry Hub are expected to fall by 47% to $3.40 per million British thermal units in 2023 from 2022.

“U.S. natural gas inventories fell by less than our expectations in January because of the warmer-than-average weather,” said EIA Administrator Joe DeCarolis. “With more natural gas in inventory, we reduced our forecast for natural gas prices over the coming year. There is still a lot of uncertainty, including the possibility of extreme weather later this winter that could increase demand and temporarily slow down production, but those possibilities decrease as we approach spring.”

https://talkbusiness.net/2023/02/eia-slashes-price-forecast-for-natural-gas-amid-warmer-weather/

National Weather Service in Little Rock warns of accumulating ice in Arkansas; Winter weather briefing attached

Accumulating ice is possible across much of the state, but the highest totals (a quarter inch or more) will likely be in the central third of the state. An ice storm warning is in effect for those areas with surrounding areas in a winter weather advisory.

Winter Weather Advisories are in effect for portions of northern, west-central, and southern Arkansas. An Ice Storm Warning is in effect for portions of central and northeastern Arkansas.

• As temperatures slowly drop at or below freezing, two systems are expected to pull moisture into the state. The first system is expected by this afternoon bringing the chance of freezing rain/sleet to portions of northern and central Arkansas. The second system (the main freezing rain producer) is expected to move in Tuesday afternoon, affecting a larger portion of the state.

Winter weather on the way to Arkansas; winter storm warning and winter weather advisory issued

Here is the latest update for the Winter Storm expected Tuesday through Wednesday. 

We've slightly increased snowfall amounts across western and northwestern Arkansas. 

Also, the Winter Storm Warning and Winter Weather Advisory have been issued.  

Changes to snow amounts/coverage of accumulation are still possible, but overall confidence for impactful snowfall is high.