COT Terminal

Natural gas (NYMEX)

Natural Gas positioning

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Price series: Henry Hub futures (front month) · positions as of Tuesday Nov 3, 2026, published Friday Nov 6, 2026

Last weekly close · Henry Hub futures (front month)
2.947
Managed money net position (contracts)
-225,359

This week · published Nov 6, 2026

Natural Gas, week of Nov 3, 2026: Managed money sit at the 0th percentile of their 3-year range — near the most bearish of the past 3 years. They cut 19,042 net long contracts on the week. 8-week signal: bearish divergence.

OverviewCOT IndexGap IndexThis weekSignal log
Bearish divergenceSep 8, 2026 → Nov 3, 2026 · 8-week window · confirmed by 2 categories

Price is rising while this group reduces exposure — the move is losing committed buyers.

Price +4.1% · managed money net position -128,617 (contracts, over 8 weekly reports)

Price vs positioning (contracts)

Price on top, and what the big traders were holding underneath it.

Trader groups on the chart — tap to show or hide

Left axis: net position in contracts. Right axis: price (Henry Hub futures (front month)). Net position = long contracts minus short contracts. Above the zero line = net long.

Signal classification tracks bullish divergencebearish divergenceconvergence (healthy trend)

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Source: CFTC Commitments of Traders — positions as of Tuesday, published the following Friday. All position figures are futures contracts unless the % of open interest view is selected. Positioning is a sentiment tool, not a timing signal. Not investment advice.