Goldman Sachs may have lost $100 million on bad natural gas bet | Business Insider


A sour bet on the direction of natural gas prices contributed to Goldman Sachs’ weak performance in commodities trading during the second quarter.

According to The Wall Street Journal, the bank had wrongly bet on an increase in gas prices in the Marcellus shale in Ohio and Pennsylvania, as a major pipeline was being constructed to export from the region.

Dallas-based Energy Transfer Partners is spearheading the $4.2 billion Rover natural-gas line in question, which would move gas from the Marcellus shale to the Midwest.

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