FX.co ★ Speculators Deepen Net Short Positions in U.S. Natural Gas Futures

Speculative traders increased their bearish bets on U.S. natural gas, with CFTC data showing net short positions widening in the latest reporting period. According to figures updated on 29 May 2026, speculative net positions fell to -203.2K contracts, compared with -192.2K previously.

The move indicates that market participants have grown more cautious on the outlook for natural gas prices, adding to already elevated short exposure. While the data do not explain the underlying drivers, the expanding net short stance suggests that traders are positioning for continued downside or at least limited upside in U.S. natural gas in the near term.