FX.co ★ Speculators Deepen Bearish Bets on U.S. Natural Gas Futures as Net Shorts Widen

Speculative traders have increased their bearish exposure to U.S. natural gas, with CFTC data showing net positions falling further into negative territory. As of the latest update on 06 March 2026, speculative net positions in natural gas stand at -206.4K contracts, down from -198.5K previously.

The widening net short position indicates that market participants are adding to bets on lower natural gas prices or at least not anticipating a strong near-term rebound. The shift from -198.5K to -206.4K underscores persistent skepticism among speculators about the demand–supply balance in the U.S. natural gas market.

For investors and traders, the deeper negative reading highlights a continued bearish sentiment in the futures market, which can influence price volatility and signal expectations for the near-term trajectory of natural gas prices in the United States.