The EIA's March 2009 Short-Term Energy Outlook is now available. Among other things, it finds that:
The U.S. economic downturn is the principal cause for the decline in domestic natural gas consumption, particularly in the industrial sector—where it is projected to fall by 6 percent in 2009—which in turn has led to lower natural gas prices. The Henry Hub natural gas spot price is projected to decline from an average of $9.13 per thousand cubic feet (Mcf) in 2008 to about $4.70 per Mcf in 2009, but then increase in 2010 to an average of almost $5.90 per Mcf.