Analysis: First Chinese gas contracts linked to international LNG prices signal oil-gas decoupling continues

After 37 past neutral macro events, NATGAS moved a median -0.1% over 5 sessions (49% higher; middle half -4.2% to +12.9%), and -1.1% over 20.

• Mar 28, 2024US gas prices to be increasingly linked to international markets through LNG+13.4%
• Jan 29, 2024Changing LNG, oil fundamentals forces global rethink on contract base-19.2%
• Apr 24, 2023Volatility Still Lurking in Global Natural Gas Markets Despite Easing Prices+5.5%
• Apr 26, 2024Equinor Expects Asia, LNG Competition to Drive European Natural Gas Prices+18.9%
• Jan 24, 2019JKM reveals three surprises in 2018 as LNG's commoditization accelerates | S&P Global-4.2%

After 102 past neutral macro events, WTI moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.

• Oct 17, 2022Oil steady as recession woes counter positive Chinese signals-0.7%
• Dec 1, 2017Crude oil prices to be under pressure in first half of 2018: S&P-1.5%
• Mar 30, 2018Exclusive: China taking first steps to pay for oil in yuan this year - sources-4.4%
• Jul 29, 2026ING Says Dollar to Take Cue from Oil Prices If Fed Holds Rate | Financial Post-4.4%
• Jul 29, 2020Expert Commentary - Update on Global Gas and LNG Prices in 2020: How has it Coped with Recent Market Dynamics? - Events-HH+1.8%