Gas price forecasts decline on strong production: Goldman Sachs – Natural Gas

Goldman Sachs analysts also said that higher injection levels imply that coal-to-gas switching has declined year over year. “While reduced switching demand can appear bearish in the near term, it is in fact a reflection of the structural tightening shift in the supply-demand balance,” the firm said. Goldman Sachs analysts also lowered their CAPP coal price forecasts from $60/short ton to $57/st, which was also a factor in lowering their gas price forecast.

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