- Money managers' short-only exposure across seven benchmark Henry Hub contracts reached 625,150, the largest in CFTC data going back to May 2013.
- The position breaks the short-only record set just a week earlier.
- Positioning reflects expectations that an unusually warm winter will cut demand for heating and power-plant fuel.
- EU gas storage is below usual levels, with Germany at 61% full versus a 80% target as of November 1.
- The Wall Street Journal reported the US discussed with Russia restoring gas flows to Europe via pipelines through Ukraine, though EU restrictions on Russian gas imports would still face significant legal obstacles.
Quotes
“badly needed revenue”