Speculative traders have increased their bearish exposure to U.S. natural gas, with net positions declining further into negative territory. According to the latest CFTC data updated on 22 May 2026, speculative net positions in natural gas futures fell to -192.2K, compared with the previous reading of -176.3K.
The move indicates that traders are adding to net short positions, reflecting a more pessimistic stance on natural gas price prospects than in the prior reporting period. The widening negative balance suggests that market participants see increased downside risk or limited near‑term support for prices, reinforcing a cautious tone in the U.S. natural gas market.
