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GasBuddy News Article


Goldman lowers winter US/UK Natural Gas
Monday, October 13, 2008
Reuters -- NEW YORK, Oct 13 (Reuters) - Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) said in a commodities research note Monday it was lowering its U.S. and UK natural gas price forecasts on the back of downward revisions to its oil and coal outlooks. "We are lowering our UK NBP price forecast through March 2010, as well as our 2008/2009 winter U.S. natural gas forecast as current credit constraints have exacerbated the global economic slowdown and have significantly damaged the current and forward oil demand outlook," the note said. The lower oil prices led Goldman to revise down its UK NBP prices, which are arbitraged against the (oil-indexed) European Continental prices.

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JT
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Message Posted: 10/13/2008 10:25:56 AM  Ignore JT Report Abuse
Monday, October 13, 2008
Reuters -- NEW YORK, Oct 13 (Reuters) - Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) said in a commodities research note Monday it was lowering its U.S. and UK natural gas price forecasts on the back of downward revisions to its oil and coal outlooks. "We are lowering our UK NBP price forecast through March 2010, as well as our 2008/2009 winter U.S. natural gas forecast as current credit constraints have exacerbated the global economic slowdown and have significantly damaged the current and forward oil demand outlook," the note said. The lower oil prices led Goldman to revise down its UK NBP prices, which are arbitraged against the (oil-indexed) European Continental prices.

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REPLIES (newest first)
wtstms
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West Virginia

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Message Posted: 10/14/2008 12:25:48 PM  Ignore wtstms Report Abuse
good
HawaiianGuy
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Idaho

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Message Posted: 10/14/2008 10:51:00 AM  Ignore HawaiianGuy Report Abuse
Maybe time to consider a natural gas-powered Honda Civic?
zmancbr
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Colorado

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Message Posted: 10/14/2008 10:49:09 AM  Ignore zmancbr Report Abuse
Could be a bit cheaper to heat our houses if NG keeps falling.
wizzard3040
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St. Louis

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Message Posted: 10/14/2008 10:46:08 AM  Ignore wizzard3040 Report Abuse
$USD finally has some legs...strength! That will do wonders...Funds seeking some core strenght/safety.
Dennis783
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Wisconsin

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Message Posted: 10/14/2008 10:44:31 AM  Ignore Dennis783 Report Abuse
That's good as the house I bought uses gas heat
Egaser
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Atlanta

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Message Posted: 10/14/2008 10:43:52 AM  Ignore Egaser Report Abuse
Locking in is a great way to save money,if you are sure of the market.
rbrowdersr
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Detroit

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Message Posted: 10/14/2008 10:43:15 AM  Ignore rbrowdersr Report Abuse
Is this a guess or will Goldman guarantee this?
madyank
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Baltimore

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Message Posted: 10/14/2008 10:41:44 AM  Ignore madyank Report Abuse
Jim621, you're smarter than you think you are!
Do you think for ONE MINUTE the suppliers wouldn't hike prices back UP if the normal Lake Erie winter winds blow as cold as they can and do?
Lock that price in as low as you can get it - because Glueball Wormening is a myth that just might have worked in your favor, this time!
Fingers Crossed for ya, buddy! Good Luck!
ladybugIL
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Chicago

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Message Posted: 10/14/2008 10:39:24 AM  Ignore ladybugIL Report Abuse
Why should we depend on OPEC? We need to build alternative cars NOW!No more SUVs!
w4kh
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Riverside

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Message Posted: 10/14/2008 10:38:44 AM  Ignore w4kh Report Abuse
Good news for folks heating with Natural Gas...
Jim621
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Cleveland

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Message Posted: 10/14/2008 10:37:53 AM  Ignore Jim621 Report Abuse
Great, right after I just signed a fixed price contract
Gerund1
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Toronto

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Message Posted: 10/14/2008 10:35:37 AM  Ignore Gerund1 Report Abuse
Right. Just wait for the first bout of cold weather.
RBimpreza
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San Diego

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Message Posted: 10/14/2008 10:35:12 AM  Ignore RBimpreza Report Abuse
lower now higher next few months
Tanks_alot
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Rhode Island

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Message Posted: 10/14/2008 10:34:57 AM  Ignore Tanks_alot Report Abuse
Now all we have to worry about is the long-range weather forecast.
spunky4443
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Washington

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Message Posted: 10/14/2008 10:34:57 AM  Ignore spunky4443 Report Abuse
Don't have it, so don't really care where the price is!!!!!!!!!
patbob56
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Colorado Springs

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Message Posted: 10/14/2008 10:32:28 AM  Ignore patbob56 Report Abuse
hmmm
wizzard1222
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St. Louis

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Message Posted: 10/14/2008 10:31:50 AM  Ignore wizzard1222 Report Abuse
What it's like to be a big Financial Bank= $10 BIILLION !
Here, take it...it's from your Uncle Sam!
ladybugIL
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Chicago

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Message Posted: 10/14/2008 10:30:48 AM  Ignore ladybugIL Report Abuse
Things could be much much worse. I am so thankful that the weather is still mild and the gas prices are going down.
hank1326
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Los Angeles

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Message Posted: 10/14/2008 10:30:20 AM  Ignore hank1326 Report Abuse
Hope this is a positive towards pulling out of the current economy concerns.
SeerLV
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Las Vegas

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Message Posted: 10/14/2008 10:28:03 AM  Ignore SeerLV Report Abuse
It should be lower still
kingpin6
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Arkansas

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Message Posted: 10/14/2008 10:28:00 AM  Ignore kingpin6 Report Abuse
Sounds good, now hopefully it will work out.
Sentraholic
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Maryland

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Message Posted: 10/14/2008 10:27:47 AM  Ignore Sentraholic Report Abuse
Goldman Sachs giving investment advice? Didn't they just go belly-up?

That's like asking the Buffalo Bills how to win a Super Bowl.
checkum
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St. Louis

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Message Posted: 10/14/2008 10:27:43 AM  Ignore checkum Report Abuse
lower today, higher tomorrow
esquared
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Oklahoma City

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Message Posted: 10/14/2008 10:27:30 AM  Ignore esquared Report Abuse
Most Oklahomans heat their homes with natural gas, and we've been forewarned to expect a jump in prices this winter, the article above notwithstanding.
gaschicCT
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Hartford

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Message Posted: 10/14/2008 10:26:52 AM  Ignore gaschicCT Report Abuse
I'm not sure I would trust ANYTHING Goldman Sachs says...
nyacoub1
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Chicago

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Message Posted: 10/14/2008 10:26:14 AM  Ignore nyacoub1 Report Abuse
interesting.
no_monkey2002
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Tallahassee

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Message Posted: 10/14/2008 10:25:57 AM  Ignore no_monkey2002 Report Abuse
What we need now is a warm winter...Fall down and pray...JESUS is comeing
traindude
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Virginia Beach

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Message Posted: 10/14/2008 10:25:44 AM  Ignore traindude Report Abuse
good i guess. the fact is that they could forecast the prices as high as they want. if people want to heat their homes this winter, they'll pay it. sad but true
tomok
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Portland

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Message Posted: 10/14/2008 10:23:07 AM  Ignore tomok Report Abuse
Goldman Sachs needs to revise Goldman Sachs.
Manipulate it to lower natural gas prices, fuel prices, etc. and conserve.
Yonkers111
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Scranton

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Message Posted: 10/14/2008 10:21:59 AM  Ignore Yonkers111 Report Abuse
In the (fuel) oil business, it was always said you can't have a good winter season (business) without a cold December. We'll see. October here is slightly above normal as of 10/13 but a ways to go still.
eaglev
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Oklahoma City

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Message Posted: 10/14/2008 10:21:19 AM  Ignore eaglev Report Abuse
We have been warned here that natural gas prices are up about 40% from last year and they were up 50% from the year before.
amacquarrie
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Nevada

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Message Posted: 10/14/2008 10:21:15 AM  Ignore amacquarrie Report Abuse
Keep going down
NavyEOD
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Los Angeles

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Message Posted: 10/14/2008 10:20:44 AM  Ignore NavyEOD Report Abuse
Lower prices, thats good.
Don20
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Oklahoma City

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Message Posted: 10/14/2008 10:18:44 AM  Ignore Don20 Report Abuse
That is good new for folks that heat their homes with natural gas..
rockinrog
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Ontario

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Message Posted: 10/14/2008 10:18:21 AM  Ignore rockinrog Report Abuse
good
tigeriz
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Maine

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Message Posted: 10/14/2008 10:18:12 AM  Ignore tigeriz Report Abuse
The only forecasters we should have is when it comes to the weather. Oil is actually something that man can control.
Br549oks
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Kansas

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Message Posted: 10/14/2008 10:18:11 AM  Ignore Br549oks Report Abuse
Glad to hear that. maybe we can stay warm this winter.
AnObserver
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New Jersey

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Message Posted: 10/14/2008 10:18:10 AM  Ignore AnObserver Report Abuse
prudent decision
USAFA82
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Colorado Springs

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Message Posted: 10/14/2008 10:15:46 AM  Ignore USAFA82 Report Abuse
Good news. Maybe my city's utility company can lock in some good long-term contracts.
JWTH531
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Greensboro

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Message Posted: 10/14/2008 10:15:31 AM  Ignore JWTH531 Report Abuse
Glad to see the speculators on Wall Street are finding it harder to make a buck
ww2gas
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Virginia

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Message Posted: 10/14/2008 10:14:37 AM  Ignore ww2gas Report Abuse
Lemonade from the lemons to be sure.
t4204life
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Ohio

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Message Posted: 10/14/2008 10:14:32 AM  Ignore t4204life Report Abuse
more good news.
Lonewolftx
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Houston

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Message Posted: 10/14/2008 10:12:11 AM  Ignore Lonewolftx Report Abuse
how nice for us . . .
montana920
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Chicago

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Message Posted: 10/14/2008 10:10:24 AM  Ignore montana920 Report Abuse
or will the oil and gas companies keep the difference for themselves?
Wolfwings
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Delaware

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Message Posted: 10/14/2008 10:09:22 AM  Ignore Wolfwings Report Abuse
Hmmm. . . . aren't these the same folks(oil commodities) who started us on the road to the current "bailout"?
NYRfan
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Cincinnati

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Message Posted: 10/14/2008 10:08:51 AM  Ignore NYRfan Report Abuse
nice to see posts like this. that future costs are going down too.
gasman50
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Portland

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Message Posted: 10/14/2008 10:08:40 AM  Ignore gasman50 Report Abuse
Keep that heat turned down!!!
tbybee
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Omaha

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Message Posted: 10/14/2008 10:08:13 AM  Ignore tbybee Report Abuse
But will the lower cost actually make it to the customer?
iluna
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Colorado Springs

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Message Posted: 10/14/2008 10:08:05 AM  Ignore iluna Report Abuse
"current credit constraints have exacerbated the global economic slowdown and have significantly damaged the current and forward oil demand outlook"
Ya' think??!!
JPGKC
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Tampa

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Message Posted: 10/14/2008 10:07:42 AM  Ignore JPGKC Report Abuse
Times are hard so people will continue to conserve...
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