By CountingPips.com – Receive our weekly COT Reports by Email
Natural Gas Non-Commercial Speculator Positions:
Large energy speculators slightly increased their bearish net positions in the Natural Gas futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Natural Gas futures, traded by large speculators and hedge funds, totaled a net position of -124,981 contracts in the data reported through Tuesday September 24th. This was a weekly change of -1,806 net contracts from the previous week which had a total of -123,175 net contracts.
The week’s net position was the result of the gross bullish position (longs) falling by -9,269 contracts (to a weekly total of 193,523 contracts) while the gross bearish position (shorts) fell by a lesser amount of -7,463 contracts for the week (to a total of 318,504 contracts).
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Natural gas speculators slightly added to their bearish bets last week following five straight weeks of declining bearish positions. Speculators have recently been shedding their bearish bets after reaching a yearly high of -212,554 contracts on August 13th.
Natural gas speculative positions have now been in bearish territory for a total of thirty-three consecutive weeks dating back to February 12th.
Natural Gas Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 86,054 contracts on the week. This was a weekly shortfall of -2,667 contracts from the total net of 88,721 contracts reported the previous week.
Natural Gas Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Natural Gas Futures (Front Month) closed at approximately $2.52 which was a decrease of $-0.14 from the previous close of $2.66, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets.
The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).
Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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