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CFTC data showed hedge funds' net long positions in US natural gas futures and options at 5,318 for the week ending January 2, 2018, near a 12-month low. Natural gas futures fell 5.3% the prior week and traded below their 50-day and 100-day moving averages.
Fund positioning near lows and bearish technicals suggest further downside pressure on natural gas prices unless storage draws surprise to the upside. Weak gas prices also squeeze upstream producer margins.
marketrealist.comGordon KristopherJan 8, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
