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Investment Funds Positioning Turns Most Bearish Since May

POWER

Investment funds net short positions in ICE German power futures turned the most bearish since 24 May to continue its downward trend, according to the COT data for the week of 28 June. This may indicate price falls of German power forward contracts in the short term.

  • Investment Funds net position down by -138,588 to -480,798.
  • Investment Firms net position down by -15,250 to +753,367.
  • Commercial Undertaking net position declined by -61,364 to -802,972 – the lowest since September 2023.
  • Germany Base Power AUG 24 down 1.8% at 76.4 EUR/MWh
  • TTF Gas AUG 24 down 2.4% at 32.885 EUR/MWh.

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