Goldman Sachs expects European gas prices to tumble 30% in the coming months
European gas prices are expected to drop to 85 euros megawatt hour in the coming months, said Goldman SachsGoldman Sachs predicts that European natural gas prices would drop by about 30The Dutch Title Transfer Facility is Europe's main benchmark for natural gas prices. It traded at around 120 euros per megawatt hour on Tuesday. But Goldman Sachs expects this benchmark to fall to 85 euros per megawatt hour in the first quarter of 2023, according to a research note published last week.
The recent cooling in gas prices has derived from several factors: Europe's gas storage is basically full for this winter season; temperatures this fall have been milder than expected thus delaying the start of a period of heavy usage; and there is an oversupply of liquefied natural gas .
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