Bears Are Keeping Their Record Grip on U.S. Gas Futures in 2016
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Bearish speculators who dominated the U.S. natural gas market last year are showing no signs of backing off.
Money managers more than doubled their net-short position in the week ended Feb. 16 to 50,018 futures equivalent in four gas contracts, according to the Commodity Futures Trading Commission data. The gas market has been net short every week since the end of 2014, a record in CFTC data going back to 2010. Long-only bets slipped 3.8 percent while bearish wagers gained 3.9 percent.