Kemp: US Natural Gas Prices Under Pressure Even As Stocks Tighten

The calendar spread between futures prices for December 2017 and March 2018 has moved into contango, indicating the market is well supplied.

Hedge funds and other money managers have cut their net long position in futures and options linked to Henry Hub prices by the equivalent of almost 960 bcf since Sept. 19.

Fund managers are the least bullish in almost a year, with the ratio of long to short positions down to 1.76 from recent highs of 2.92 in September and 5.03 in May.

(Editing by Dale Hudson)


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