# Natural Gas: Physical Gas Market Now Starting To Reflect The Incoming Deficit | Seeking Alpha

> U.S. shale oil producers have announced increased shut-ins after WTI's record negative settlement, and Waha basis differentials have started to reflect the coming drop in associated gas. A 35 Bcf storage build for the week ending April 17 is also noted.

- Date: 2020-04-22 · published 2020-04-22T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/12203-natural-gas-physical-gas-market-now-starting-to-reflect-the-incoming-deficit
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Shut-ins of oil wells remove associated gas from the market, which the analyst expects to tighten the physical gas balance and lift prices in coming weeks.

## Read by commodity

- NATGAS: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2020-04-22 | 5 | +17.1% | 3.0 | Increased shale shut-ins after WTI's negative settlement and a smaller-than-expected 35 Bcf storage build point to a coming associated-gas supply deficit, supporting the price rally. |
| NATGAS | 2020-04-21 | 5 | +14.6% | 2.8 | Expanded shale oil shut-ins after WTI's negative settlement, along with a smaller 35 Bcf storage build, point to lower associated gas supply and supported prices in the days to April 21. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-10-08 | [Fertilizer prices soaring as natural-gas rally adds to ‘perfect storm’ - MarketWatch](https://feedsoft.ai/events/5906-fertilizer-prices-soaring-as-natural-gas-rally-adds-to-perfect-storm-marketwatch.md) | +1.9% | +0.5% |
| NATGAS | 2024-06-28 | [Natural gas market developments: prices bouncing back from the cold](https://feedsoft.ai/events/29955-natural-gas-market-developments-prices-bouncing-back-from-the-cold.md) | -17.3% | -23.8% |
| NATGAS | 2026-05-29 | [Natural Gas: Summer Heatwaves May Deepen the Global LNG Crunch \| Investing.com](https://feedsoft.ai/events/19438-natural-gas-summer-heatwaves-may-deepen-the-global-lng-crunch-investing-com.md) | +1.4% | +2.7% |
| NATGAS | 2021-12-14 | [The emerging global natural gas market and the energy crisis of 2021-2022 \| Brookings](https://feedsoft.ai/events/43786-the-emerging-global-natural-gas-market-and-the-energy-crisis-of-2021-2022.md) | -1.2% | +7.3% |
| NATGAS | 2017-11-02 | [Natural Gas Market - Elasticities Are Changing and That Means More Volatility - IASG](https://feedsoft.ai/events/10191-natural-gas-market-elasticities-are-changing-and-that-means-more-volatility-iasg.md) | +13.8% | +12.0% |

## Sources

- seekingalpha.com: https://seekingalpha.com/article/4339265-natural-gas-physical-gas-market-now-starting-to-reflect-the-incoming-deficit

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