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NATGAS: Funds Cut Net Long Henry Hub Positions to Lowest Since May

NATGAS
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GAS POSITIONING – Funds have cuts net long positions on seven US Henry Hub contracts to the lowest since May as the futures have trended lower so far in October, according to the Commitments of Traders data released on Friday.

  • Net positions of the weighted index of Nymex and ICE natural gas contracts fell by 53k to a net long of 73k, according to Bloomberg. The long only position was the lowest in 19 weeks but the short only position the highest in four weeks.
  • Managed money Nymex Henry Hub futures and options fell by 60k on the week to a net short of 79k with a drop in long only positions and increase in short only, according to the Nymex disaggregated data.
  • Henry Hub is finding some support today but remains in a bearish trend since reaching a high of $3.019/mmbtu on Oct. 4.
  • US Natgas NOV 24 up 3.8% at 2.34$/mmbtu
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GAS POSITIONING – Funds have cuts net long positions on seven US Henry Hub contracts to the lowest since May as the futures have trended lower so far in October, according to the Commitments of Traders data released on Friday.

  • Net positions of the weighted index of Nymex and ICE natural gas contracts fell by 53k to a net long of 73k, according to Bloomberg. The long only position was the lowest in 19 weeks but the short only position the highest in four weeks.
  • Managed money Nymex Henry Hub futures and options fell by 60k on the week to a net short of 79k with a drop in long only positions and increase in short only, according to the Nymex disaggregated data.
  • Henry Hub is finding some support today but remains in a bearish trend since reaching a high of $3.019/mmbtu on Oct. 4.
  • US Natgas NOV 24 up 3.8% at 2.34$/mmbtu