FX.co ★ Speculators Trim Bearish Natural Gas Bets as Net Short Positions Narrow

Speculative sentiment in U.S. natural gas futures turned slightly less negative, as the latest CFTC data show a modest reduction in net short positions. According to figures updated on 28 August 2026, speculative net positions in natural gas improved from -203.5K to -197.9K contracts.

The move indicates that bearish bets remain dominant but have been partially unwound, suggesting some traders may be reassessing the downside potential in the market. While the net position is still firmly in negative territory, the narrowing short exposure could signal early positioning for a potential shift in fundamentals or pricing dynamics in the U.S. natural gas market.