FX.co ★ Natural Gas Bears Edge Back as CFTC Speculative Shorts Narrow Slightly

Speculative sentiment in U.S. natural gas futures showed a marginal shift in the latest data, with net positions remaining firmly in bearish territory. According to figures updated on 14 August 2026, CFTC Natural Gas speculative net positions moved from -197.5K to -197.1K contracts.

The modest 0.4K contract change indicates that while short positioning remains dominant, speculative traders have slightly reduced their net bearish exposure. The move is subtle, suggesting no significant repositioning but hinting at a marginal softening in negative sentiment toward U.S. natural gas. Investors will be watching upcoming market and weather developments to see whether this small adjustment marks the start of a broader positioning trend or merely a brief pause in bearish conviction.