SoftSignal Research
Natural Gas — Positioning & Signal
CFTC COT · Structural Positioning Reversal Tendency (SPRT) · fundamental stress — updated weekly
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As of June 9, 2026, managed-money speculators held an extreme short position in NYMEX Henry Hub natural gas futures, placing net positioning in the bottom of its range (≤ 15th percentile) since 2010. The position was little changed week-over-week. Fundamentals — EIA working-gas storage vs. 5-year average: +4.6% vs 5yr (surplus).

Managed-money regime
Extreme Short
Direction (WoW)
Was little changed
Fundamental signal
+4.6% vs 5yr (surplus)
COT report date
June 9, 2026
Source
CFTC Disaggregated COT (Combined)

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