Goldman Sachs expects China’s ongoing natural gas inventory drawdowns to translate into higher LNG import demand heading into the northern hemisphere winter, which could tighten global balances and add upside pressure to European benchmark prices. The bank noted that stronger Chinese pull on seaborne gas may indirectly support crude benchmarks such as Oil – US Crude, particularly if Hormuz-related supply risks persist.
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Over the past month, Oil – US Crude has advanced about 6.38%, reflecting improving risk sentiment and concerns over potential disruptions in the Middle East, while its 1-day technical stance screens as Hold. Natural Gas has gained roughly 10.00% in the same period, supported by shifting global demand expectations and tighter inventories, and its short-term technical signal currently points to Buy.
Investors can explore more updates, prices, and analysis across global markets at Commodities.