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NATGAS: Funds Henry Hub Net Longs Drifted Lower Last Week

NATGAS

GAS POSITIONING – Funds reduced net long positions on seven US Henry Hub contracts in the week to July 30 according to the Commitments of Traders data released on Friday.

  • Net positions of the weighted index of Nymex and ICE natural gas contracts edged lower by 3k to a net long of 133k, according to Bloomberg.
  • The small reduction in bullish positioning follows a gradual decline in front month futures from a high of $3.159/mmbtu on Jun 11 amid strong domestic production and healthy seasonal storage ahead of the upcoming winter. 
  • Managed money Nymex Henry Hub futures and options rose 2k on the week to a net short of 54k with an increase in both long and short positions, according to the Nymex disaggregated data.
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