Goldman Sachs Says Fuel Transition will Boost Gas Demand

European gas prices are near their lowest point in two years, industrial demand is weak, supply is abundant, and prices are under pressure.

Goldman Sachs believes that natural gas prices may bottom at around 20 euros. Benchmark European natural gas prices fell as much as 4.2% on Monday May 22, dropping below 29 euros to their lowest level since mid-June 2021. Last Friday, the contract fell for a seventh straight week, its longest losing streak in six years.

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