Nat Gas
Natural Gas
Week of May 12, 2026
BEARISH
Smart money is net short and reducing.
2Y percentile: 5th — Extremely low (historically rare)
Weekly change: -12,576 contracts
Weekly Changes
Producer/Merchant+1.7K
Managed Money-12.6K
Swap Dealer+4.4K
Other Reportable+2.9K
Positioning Percentile (2Y)
Producer/Merchant
52ndNormal range
050100
Managed Money
5thExtremely low (historically rare)
050100
Swap Dealer
97thExtremely high (historically rare)
050100
Other Reportable
76thWell above average
050100
Full Stats Table
| Trader Type | Net Position | Weekly Change | 2Y Percentile | 5Y Percentile |
|---|---|---|---|---|
| Producer/Merchant | -26.3K | +1.7K | 52nd | 81st |
| Managed Money | -120.1K | -12.6K | 5th | 4th |
| Swap Dealer | +185.6K | +4.4K | 97th | 70th |
| Other Reportable | -56.2K | +2.9K | 76th | 79th |
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.