Goldman: "US Gas Rally Likely Too Much, Too Soon"

Henry Hub spot natural gas prices surged to $4.90/mmBtu on Monday morning, reaching fresh two-year highs as traders weighed the impact of tariffs on Canadian fuel and potential retaliatory measures. Amid the volatility, Goldman Sachs' co-head of Global Commodities Research, Samantha Dart, clarified what's next for prices, warning, "US Gas Rally Likely Too Much, Too Soon." 

Dart said the sharp increase in Henry Hub spot NatGas prices has been a combination of colder-than-average temperatures, which, along with production freeze-offs and a quick ramp-up of liquefaction operations at the newly started 1.4 Bcf/d phase one of the Plaquemines LNG export facility in Louisiana, helped draw down salt inventories to very low levels.