# U.S. natgas trading at premium over oil after crude price collapse

> U.S. crude's premium over natural gas turned into a deficit for the first time after the rapid collapse of U.S. oil futures on Monday. The gap pushed some local gas prices negative because pipeline capacity could not handle the volumes.

- Date: 2020-04-20 · published 2020-04-20T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/12199-u-s-natgas-trading-at-premium-over-oil-after-crude-price-collapse
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Crude falling below gas on an energy-equivalent basis reflects demand destruction and signals oil-linked gas supply cuts, which tends to support gas prices over time.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-04-23 | [Ringgit at risk from weak crude oil prices](https://feedsoft.ai/events/53931-ringgit-at-risk-from-weak-crude-oil-prices.md) | +9.9% | +145.0% |
| WTI | 2022-09-21 | [Oil prices slide 1% after U.S. Fed raises interest rates](https://feedsoft.ai/events/39490-oil-prices-slide-1-after-u-s-fed-raises-interest-rates.md) | -6.9% | -1.7% |
| WTI | 2020-03-27 | [The Oil Price Collapse Could Reshape Global Natural Gas Markets \| Georgetown Journal of International Affairs \|
    Georgetown University](https://feedsoft.ai/events/54312-the-oil-price-collapse-could-reshape-global-natural-gas-markets-georgetown.md) | +37.1% | -32.8% |
| WTI | 2020-04-22 | [Oil’s collapse and its effect on diesel prices - FreightWaves](https://feedsoft.ai/events/53806-oil-s-collapse-and-its-effect-on-diesel-prices-freightwaves.md) | +33.7% | +249.4% |
| WTI | 2026-07-07 | [Oil prices settle at pre-Iran war levels as crude output grows](https://feedsoft.ai/events/18255-oil-prices-settle-at-pre-iran-war-levels-as-crude-output-grows.md) | +13.9% | +17.6% |

## Sources

- reuters.com: https://www.reuters.com/article/us-energy-natgas-oil-ratio/us-natgas-trading-at-parity-with-oil-after-crude-price-collapse-idUSKBN22223I/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.