Natural Gas COT: Spec Shorts Hit an Extreme as Rebound Risk Emerges

Natural Gas speculators pushed their net short to 242,693 contracts, a 5-year extreme. Commercials sit at the 96th percentile, triggering a new Rebound risk (up). Why it matters: A crowded speculative short facing heavily long hedgers is the setup in which short-covering squeezes become more likely. It is one of only two new 5-year extremes this week. Natural Gas positioning z-score (5y)Speculators, this week-1.42Speculators, last...