Nat Gas
Natural Gas
Week of September 29, 2026
BEARISH
Smart money is net short and reducing.
2Y percentile: 4th, Extremely low (historically rare)
Weekly change: -67,252 contracts
Weekly Changes
Producer/Merchant+9.6K
Managed Money-67.3K
Swap Dealer+343
Other Reportable+52.8K
Positioning Percentile (2Y)
Producer/Merchant
64thAbove average
050100
Managed Money
4thExtremely low (historically rare)
050100
Swap Dealer
100thExtremely high (historically rare)
050100
Other Reportable
38thBelow average
050100
Full Stats Table
| Trader Type | Net Position | Weekly Change | 2Y Percentile | 5Y Percentile |
|---|---|---|---|---|
| Producer/Merchant | -14.1K | +9.6K | 64th | 86th |
| Managed Money | -132.8K | -67.3K | 4th | 2nd |
| Swap Dealer | +227.6K | +343 | 100th | 98th |
| Other Reportable | -98.2K | +52.8K | 38th | 38th |
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.