Nat Gas
Natural Gas
Week of March 31, 2026
BEARISH
Smart money is net short and reducing.
2Y percentile: 23th — Well below average
Weekly change: -13,461 contracts
Weekly Changes
Producer/Merchant-6.3K
Managed Money-13.5K
Swap Dealer+2.0K
Other Reportable+18.6K
Positioning Percentile (2Y)
Producer/Merchant
66thAbove average
050100
Managed Money
23rdWell below average
050100
Swap Dealer
81stWell above average
050100
Other Reportable
37thBelow average
050100
Full Stats Table
| Trader Type | Net Position | Weekly Change | 2Y Percentile | 5Y Percentile |
|---|---|---|---|---|
| Producer/Merchant | -17.3K | -6.3K | 66th | 87th |
| Managed Money | -67.6K | -13.5K | 23rd | 24th |
| Swap Dealer | +165.7K | +2.0K | 81st | 47th |
| Other Reportable | -99.8K | +18.6K | 37th | 43rd |
About Nat Gas Positioning
The most volatile major commodity. Natural gas positioning is driven by weather, storage levels, and LNG export demand. Managed money positioning swings wildly and extreme shorts have preceded some of the largest percentage moves in any commodity market. Producer hedging patterns reveal seasonal supply expectations.