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Funds Maintain Net Long Henry Hub Positions

NATGAS

GAS POSITIONING – Money managers maintained net long positions on seven US Henry Hub contracts last week at the most bullish since January according to the Commitments of Traders data released on Friday.

  • The increase comes as front month futures have resumed the bullish trend in early June amid lower production levels relative to last year.
  • Net positions of the weighted index of Nymex and ICE natural gas contracts rose by 1k to a net long of 102k according to Bloomberg but still below levels as high as 180k seen in Nov. 2023.
  • The long only and short only positions are both at the lowest levels in 20 weeks.
    • US Natgas JUL 24 up 3% at 3.01$/mmbtu

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