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NATGAS: Funds Henry Hub Positioning Turns Less Bullish

NATGAS

GAS POSITIONING – Funds reduced net long positions on seven US Henry Hub contracts in the week to Aug 13 to the least bullish since July 12, 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 24k to a net long of 127k, according to Bloomberg.
  • Henry Hub is holding within the $2.097mmbtu to $2.301/mmbtu range in the last week amid stable fundamentals and healthy storage levels. Global gas markets are still wary of supply disruption from geopolitical events in Ukraine and the Middle East.
  • Managed money Nymex Henry Hub futures and options fell 10k on the week to a net short of 61k with a decline in both long and short positions, according to the Nymex disaggregated data.
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