As news that President Trump tested positive for the coronavirus roiled markets the world over, natural gas futures were down sharply in early trading Friday, mirroring declines in crude. The November Nymex contract was off 12.0 cents to $2.407/MMBtu at around 8:40 a.m. ET.

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News of Trump’s positive test, revealed by the president himself over Twitter in the early morning hours Friday, dominated headlines and injected another dose of uncertainty into an economy already wracked by the year’s unprecedented events.

“Democratic nominee Joe Biden has reason to be concerned” after being “in close proximity to the President during the debate,” Mizuho Securities USA LLC analyst Robert Yawger said. “Stimulus negotiations, Supreme Court nomination, the next debate, and...