EIA November STEO 10 Nov 2026: almost 70 Bcf higher end‑November U.S. gas storage forecast and Henry Hub Nov–Mar at $2.87/MMBtu
EIA Nov 10 STEO: ~70 Bcf larger Nov storage; Henry Hub $2.87 Nov–Mar; Brent $104 Nov, $99 Dec, $86 in 2027.
- Urgency
- L3
- 76
- 80
- 70
- 60
- 85
At a glance
On 10 November 2026 the U.S. Energy Information Administration published its November Short-Term Energy Outlook and a press release that raised the end‑November U.S. natural gas storage forecast by almost 70 billion cubic feet versus October and set the Henry Hub Nov–Mar average at $2.87 per million British thermal units. The STEO also forecasts Brent crude will average $104 per barrel in November and $99 per barrel in December and $86 per barrel in 2027 as global inventories rebuild.
- EIA Nov 10 STEO: ~70 Bcf larger Nov storage; Henry Hub $2.87 Nov–Mar; Brent $104 Nov, $99 Dec, $86 in 2027.
CHRONOS Wire · November 10 · Alert 18
What happened
On 10 November 2026 the U.S. Energy Information Administration raised its expected U.S. natural gas inventories for the end of November by almost 70 billion cubic feet and cut its winter Henry Hub price forecast to $2.87 per million British thermal units. The STEO also forecasts Brent crude will average $104 per barrel in November and $99 per barrel in December, and $86 per barrel in 2027 as global inventories rebuild.
Why it matters
The STEO release is immediate and can affect market positioning for the winter heating season; traders and system operators should note the changed winter gas inventory and price outlook.
CHRONOS Bottom Line
EIA’s November STEO (10 Nov 2026) raises U.S. end‑November gas storage by nearly 70 Bcf versus October and lowers the Henry Hub Nov–Mar average to $2.87/MMBtu; the report separately forecasts near‑term Brent at $104/b in November and $99/b in December and $86/b in 2027.
Full detail
What changed
EIA published the November 2026 Short-Term Energy Outlook and an accompanying press release on 10 November 2026 that raised the end-November U.S. storage forecast by almost 70 billion cubic feet relative to October and set the Henry Hub Nov–Mar average at $2.87/MMBtu. The STEO also forecasts Brent at $104/b in November, $99/b in December, and averaging $86/b in 2027 as global inventories rebuild.
What is genuinely new
The November STEO released 10 Nov 2026 contains an almost 70 Bcf upward revision to expected end‑November U.S. storage versus the October forecast and sets the Henry Hub Nov–Mar average at $2.87/MMBtu; the STEO also publishes specific near‑term Brent forecasts ($104/b November, $99/b December) and a 2027 average of $86/b.
Detailed analysis
EIA’s November STEO and press release on 10 Nov 2026 report an upward revision of almost 70 Bcf to expected end‑November U.S. storage relative to October and lower the Henry Hub Nov–Mar average to $2.87/MMBtu. The STEO separately provides Brent forecasts of $104/b in November and $99/b in December and a 2027 average of $86/b, noting these 2027 figures reflect additional flows from the Middle East and rebuilding global inventories. The inventory and price revisions are material for short-term natural gas markets; their persistence will depend on weather and evolving supply conditions.
U.S. Impact
Current impact
Elevated
EIA’s November STEO revises U.S. storage and winter gas price outlook downward immediately, which the market can interpret as supportive for near-term gas price relief.
Potential impact
Elevated
Higher expected November inventories and a lower winter Henry Hub average reduce near-term U.S. gas price risk for the heating season, which may ease wholesale price pressure for utilities and gas-fired generators.
- Impact type
- Direct
- Confidence
- High
U.S. Impact is an analytical assessment of the estimated current and potential effects on the United States. It is not a probability forecast.