Crude oil and Natural gas

Their prices have moved together.

Crude oil (energy) and Natural gas (energy): 1 relationship.

How they are linked

1. Price link: competing fuel

Cost and price · Moderate · Both ways

Gas and oil compete in heating, power and industry, and older European gas contracts were indexed to oil. As hub trading took over the tie weakened: monthly moves correlate at only 0.16, though yearly changes still correlate at 0.60 because both follow the same energy cycle.

• 0.16 monthly change correlation
• 0.60 12-month change correlation
• 0.37 fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.