# Oil crash closes gap to spot LNG – Energy Connections

> Brent crude fell from about $10 per MMBtu in mid-February to below $6 in mid-March after OPEC members including Saudi Arabia and Russia failed to agree output cuts. The gap between oil and spot LNG prices narrowed from $7 to $3 per MMBtu.

- Date: 2020-03-16 · published 2020-03-16T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54316-oil-crash-closes-gap-to-spot-lng-energy-connections
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

A narrowing oil-to-gas spread reduces incentives to buy spot LNG and could lower oil-indexed contract prices over time if low oil prices persist for months.

## Read by commodity

- BRENT: bearish ▼
- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2020-03-19 | 5 | -13.8% | -3.0 | The oil crash and narrower oil-to-LNG price gap weakened the global energy price complex and pressured US gas via sentiment and lower LNG export netbacks. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-03-10 | [Crude oil’s crash jeopardises Asia’s cleaner fuel ambitions \| FMT](https://feedsoft.ai/events/54010-crude-oil-s-crash-jeopardises-asia-s-cleaner-fuel-ambitions-fmt.md) | -16.8% | -21.6% |
| BRENT | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | -1.2% | -25.9% |
| BRENT | 2025-07-24 | [Price Flip May Be Needed to Avert Emerging Oil Glut \| Energy Intelligence](https://feedsoft.ai/events/23927-price-flip-may-be-needed-to-avert-emerging-oil-glut-energy-intelligence.md) | +6.9% | -2.3% |
| BRENT | 2020-03-29 | [Oil Crashes to 18-Year Low With Broken Market Drowning in Crude - Bloomberg](https://feedsoft.ai/events/5324-oil-crashes-to-18-year-low-with-broken-market-drowning-in-crude-bloomberg.md) | +21.9% | -26.3% |
| BRENT | 2020-10-01 | [OIL FUTURES: Crude hits five-month lows as European lockdowns loom – The Energy Bulletin Daily](https://feedsoft.ai/events/50805-oil-futures-crude-hits-five-month-lows-as-european-lockdowns-loom-the-energy.md) | +1.7% | -5.3% |
| NATGAS | 2019-03-21 | [Morgan Stanley: Low European gas prices to prompt US LNG utilization cuts \| Oil & Gas Journal](https://feedsoft.ai/events/60257-morgan-stanley-low-european-gas-prices-to-prompt-us-lng-utilization-cuts-oil.md) | -4.9% | -10.8% |
| NATGAS | 2019-03-25 | [LNG supply glut, price slump should raise questions over future projects: Russell - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60259-lng-supply-glut-price-slump-should-raise-questions-over-future-projects-russell.md) | -2.0% | -6.7% |
| NATGAS | 2025-04-28 | [Supply Disruptions Not Enough to Lift Global Natural Gas Prices as Asian Demand Remains Weak — LNG Recap](https://feedsoft.ai/events/25298-supply-disruptions-not-enough-to-lift-global-natural-gas-prices-as-asian-demand.md) | +18.9% | +10.8% |

## Sources

- icis.com: https://www.icis.com/energy-connections/2020/03/oil-crash-closes-gap-to-spot-lng/

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