Goldman Sachs reports that Persian Gulf oil exports doubled in September, while European natural gas inventories fell to a five-year low.
Goldman Sachs reported on Wednesday that Persian Gulf oil exports have doubled in September and returned to 2025 average levels, with Brent crude prices expected to moderately decline to $85 per barrel by year-end, CNBC reported. Meanwhile, the European natural gas market faces challenges, with EU gas inventories falling to a five-year low, and Germany and France experiencing even worse situations. Despite this, the European Commission and member states reiterated that gas supplies remain stable, mainly due to US exports. European natural gas October futures prices are more than double their February levels, and billions of dollars worth of natural gas are still being purchased from Russia via ships.
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