JP Morgan Announced Latest Oil and Natural Gas Price Forecast

SEATTLE (Oil Monster): JP Morgan announced its latest Brent, WTI and Henry hub gas price forecasts.

According to the JP Morgan research note, the Brent crude oil prices are expected to average around $84 per barrel in 2024 and $75 per barrel in 2025. The WTI crude prices will average $79 per barrel this year and $71 per barrel next year. Meantime, the Henry Hub price is expected to average $2.88 per MMBtu in 2024 and $4.75 per MMBtu in 2025, the research note said.

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The Brent crude prices are projected at $84 per barrel in the second and third quarters of this year, $85 per barrel in the fourth quarter, $82 per barrel in Q1 2025, $77 per barrel in Q2 2025, $73 per barrel in Q3 2025 and $69 per barrel in Q4 2025.

The WTI prices for the second and third quarter of the current year is predicted at $80 per barrel and $81 per barrel in Q4 this year. In 2025, the per barrel prices are likely to average at $78, $73, $69 and $65 in Q1, Q2, Q3 and Q4 respectively.

JP Morgan foresees Henry Hub gas price to average at $2.05 per MMBtu in the second quarter, $3.00 per MMBtu in the third quarter, $4.00 per MMBtu in the fourth quarter of the current year. In the initial quarter of 2025, the average price is predicted at $4.75 per MMBtu, followed by $4.50 per MMBtu, $4.75 per MMBtu, $5.00 per MMBtu in Q2, Q3 andQ4 respectively.