Goldman Sachs Sees Downside Risk To TTF Prices In 2026/2027 Amid Us-China Tariff De-Escalation
ReutersMay 13, 2025 1:27 AM
May 13 (Reuters) - GOLDMAN SACHS:
CONTINUES TO EXPECT SEQUENTIAL DOWNSIDE TO PRICES INTO 2026/2027, WHEN THEY FORECAST TTF TO AVERAGE $9.70/$6.55/MMBTU
SAYS WHILE THE APRIL CHINA LNG IMPORT DATA POINT WAS STILL BELOW OUR EXPECTATIONS, TODAY’S ANNOUNCEMENT OF A SIGNIFICANT DE-ESCALATION OF US-CHINA TARIFFS LEAVES RISK TO OUR GAS PRICE FORECAST MORE BALANCED
SAYS GIVEN OUR SEQUENTIALLY LOWER OIL PRICE VIEWS FOR 2026 VS 2025, WE SEE RISKS TO OUR EXPECTED 1 BCF/D YOY GROWTH IN ASSOCIATED GAS IN 2026 SKEWED TO THE DOWNSIDE
SAYS THIS RISK, IF REALIZED, WOULD REINFORCE (AND POTENTIALLY EXACERBATE) OUR BULLISH $4.60/MMBTU SUM26 HENRY HUB VIEW
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