Goldman Sachs Says Colder December Lowers U.S. Storage Outlook, Exposing 2026-27 Winter To Tightening Shocks

Dec 7 (Reuters) - GOLDMAN SACHS:

• SAYS "WE MAINTAIN OUR $4.50/MMBTU SUMMER 2026 NYMEX GAS PRICE FORECAST"

• SAYS "WE MAINTAIN OUR $2.70/$2.75/MMBTU 2028/29 NYMEX GAS PRICE FORECAST"

• SAYS CONTINUED GROWTH IN GLOBAL LNG SUPPLY WILL LIKELY LEAD NW EUROPEAN STORAGE TOWARDS CONGESTION IN 2028/2029, PRESSURING TTF AND JKM PRICES LOW ENOUGH TO REDUCE GLOBAL LNG SUPPLY BY CLOSING THE US LNG EXPORT ARB

• SAYS SIGNIFICANTLY COLDER-THAN-AVERAGE DECEMBER IN THE U.S. HAS CONTRIBUTED TO LEAVING THEIR END-OCT26 STORAGE EXPECTATIONS STILL AT RELATIVELY LOW LEVEL, LEAVING THE 2026-27 WINTER VULNERABLE TO TIGHTENING SHOCKS