Prompt Month Natural Gas Futures Sink 10% as Geopolitical Risks ‘Evaporate’

After 15 past bearish geopolitics events, Natural Gas moved a median -1.1% over 5 sessions (40% higher; middle half -9.2% to +2.4%), and +4.7% over 20.

• Feb 2, 2026NYMEX Overview: Futures Move Lower as Geopolitical Tensions Cool -- OPIS-30.8%
• May 10, 2022Gas prices drop as Russia says sanctions will not affect gas payments from Europe+6.5%
• Jan 1, 2020European Gas Prices Fall as Ukraine, Russia Deal Averts Crisis-1.1%
• Feb 7, 2020The Commodities Feed: More OPEC+ cuts coming | snaps | ING THINK+1.4%
• May 11, 2022European Gas Falls as Traders Shrug Off Russia Supply Risk - Bloomberg+17.0%

After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.

• Nov 21, 2025Market Talk | Diesel Futures Slide For Third Day Amid Geopolitical Tensions And Refinery Setbacks-2.0%
• Feb 2, 2026NYMEX Overview: Futures Move Lower as Geopolitical Tensions Cool -- OPIS-1.6%
• Apr 2, 2018Oil falls as geopolitical anxiety 'comes racing out of the market'-4.4%
• Jun 24, 2025Crude Prices Plunge as Geopolitical Risk Premium Vanishes-4.6%
• Mar 9, 2026Oil Futures Fall As Market Looks for Shorter War - WSJ+8.5%