1535 ET - U.S. natural gas futures recover much of their early losses that followed further warning in near-term weather outlooks at the weekend, but still settle lower on the day. Friday's commitment of traders reported showed an increase in net-short positions, but driven entirely by a drop in long positions, Eli Rubin of EBW Analytics says in a note. "While fundamentals remain weak, any short profit-taking or stabilization together with a technically oversold natural gas market may lay the groundwork for a relief rally," he adds. Nymex natural gas for November delivery settles down 1.4% at $2.602/mmBtu after falling briefly below $2.50.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.