Goldman raises Dutch TTF gas price view on slow Hormuz export recovery

Goldman Sachs raised its Dutch TTF gas price forecasts for Q3 and Q4 to 60 euros and 53 euros per MWh, up from earlier projections of 41 and 40 euros, citing slow recovery of Gulf LNG exports now expected to normalise by October rather than July. The bank flagged risk of TTF rising to 65 euros/MWh on a cold winter shock, with Northwest Europe gas storage projected at 67% full by winter start against its earlier 74% forecast. Geopolitical tensions, including Iran-aligned Houthi threats of a naval blockade on Saudi Arabia, are adding to global energy supply concerns.