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NATGAS: Funds Continue Raising Net Long Henry Hub Positioning

NATGAS
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GAS POSITIONING – Funds net long positions on seven US Henry Hub contracts continued the steady trend higher again in the week to Oct. 1, according to the Commitments of Traders data released on Friday.

  • Net positions of the weighted index of Nymex and ICE natural gas contracts rose by 6k to a net long of 133k, according to Bloomberg. The long only position was the lowest in 17 weeks and short only position the lowest in 14 weeks.
  • Managed money Nymex Henry Hub futures and options rose by just 1k on the week to a net short of 14k amid offsetting declines in both long only and short only positions, according to the Nymex disaggregated data.
  • Henry Hub front month futures have maintained a steady rise since late August amid a declining storage surplus ahead of the winter heating season, although prices pulled back from the highest since mid June of $3.019/mmbtu on Friday.
    • US Natgas NOV 24 down 1.2% at 2.82$/mmbtu

 

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GAS POSITIONING – Funds net long positions on seven US Henry Hub contracts continued the steady trend higher again in the week to Oct. 1, according to the Commitments of Traders data released on Friday.

  • Net positions of the weighted index of Nymex and ICE natural gas contracts rose by 6k to a net long of 133k, according to Bloomberg. The long only position was the lowest in 17 weeks and short only position the lowest in 14 weeks.
  • Managed money Nymex Henry Hub futures and options rose by just 1k on the week to a net short of 14k amid offsetting declines in both long only and short only positions, according to the Nymex disaggregated data.
  • Henry Hub front month futures have maintained a steady rise since late August amid a declining storage surplus ahead of the winter heating season, although prices pulled back from the highest since mid June of $3.019/mmbtu on Friday.
    • US Natgas NOV 24 down 1.2% at 2.82$/mmbtu

 

Keep reading...Show less