Gas prices falter on Goldman Sachs oversupply warning
Proactive Investors
Published Feb 16, 2024 12:25
Gas prices falter on Goldman Sachs oversupply warning
Proactive Investors - Gas prices dipped on Friday morning as Wall Street giant Goldman Sachs (NYSE:GS) warned that "oversupply" could plague the market from next year.
Natural gas slipped 1.4% from 61.35p per British thermal unit to 60.50p following Goldman's prediction that a rapid uptick in supply would take it past demand come 2025.
Liquefied natural gas prices were tipped to fall next year, and even further between 2026 and 2028 as a result of the sharp rise in supply seen on the back of the energy crisis.
Such an uptick in supply will lead to prices plummeting, in the bank’s view, as a “gradual softening” in the difference between demand and stocks takes place in Europe.
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