HeadlinesBriefing favicon HeadlinesBriefing.com

Goldman Says Europe Needs €100 Gas for Winter Inventory

Bloomberg Markets •
×

European gas prices will likely need to rise above €100 ($117) a megawatt-hour in December for the continent to rebuild enough inventory to last the winter, according to Goldman Sachs Group Inc. Even a recent rally in Dutch front-month futures, Europe’s gas benchmark, won’t be enough to divert sufficient liquefied natural gas from Asia in the event that Middle East supply disruptions extend into next year, analysts Samantha Dart and Laura Cyr wrote in a note. The futures rose to a five-month high above €65/MWh last week.