Goldman Sachs lost more than $100m in the second quarter on a wager that regional natural gas prices would rise, a wrong-way bet that contributed to a slump at its commodities unit during the period, writes Liz Hoffman for The Wall Street Journal.
The US bank bet that gas prices in the Marcellus Shale in Ohio and Pennyslvania would rise due to the construction of new pipelines to transport gas from the region, according to people familiar with the matter.
