Gas Traders Set New High in Low Expectations
April 06, 2020
ENGIE’s Market Monitor has been tracking the weekly CFTC Commitments of Traders report for 127 weeks. This is the first time that the ratio of natural gas positions held by major commercial traders indicates such a strong view, that lower prices are ahead. The pattern represents a normal distribution with 88% of the data points falling within one standard deviation of the mean, 51%. That helps make the March 31, 2020 report a true outlier.
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