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US Henry Hub Gas Forecasts Reduced By Goldman Sachs

NATGAS

Goldman Sachs lowered the US natural gas Henry Hub forecasts for summer 2023 and winter 2023.

  • The forecast for summer 2023 was cut by 45c to 2.85$/mmbtu due to larger-than-expected storage inventories for the end of May.
  • Henry Hub for winter 2023 is expected to be 15c lower at 2.95$/mmbtu on the expectation of growing US supplies.
  • Balances are at higher risk of breaching storage capacity in 2024 than 2023 as de-bottlenecking work in the Permian Basin allows for higher production growth from 4Q 2023. The summer 2024 forecast has been reduced by 15c to 2.85$/mmbtu.

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