Goldman Sachs raises Q1 2027 European gas forecast to €74/MWh

The scale of the revision — not the headline number — is the story: a near-70% mark-up on a single scenario probability shows how much of the European gas curve now rests on weather and Middle East LNG availability rather than on demand. That matters for energy-intensive European industry and utilities hedging forward exposure, and for LNG suppliers weighing contract pricing. Whether other forecasters converge on Goldman's scenario weighting, or treat it as an outlier, is the open question.