The CFTC (or US Commodity Futures Trading Commission) will release its weekly Commitment of Traders report on Friday, October 27, 2017. In its last report, the CFTC stated that hedge funds’ net bullish positions in US natural gas futures and options contracts rose by 28,519 contracts to 64,692 from October 10-17, 2017. Net-bullish positions rose 79% week-over-week but are down 82,755 contracts or 56% year-over-year.
EIA’s US natural gas price forecasts
The EIA (or US Energy Information Administration) estimates that US natural gas (FCG) (BOIL) (UNG) prices could average $3.03 per MMBtu in 2017 and $3.19 per MMBtu in 2018. The rise in domestic consumption and exports could drive natural gas prices higher. Prices averaged $2.63 per MMBtu in 2015 and $2.51 per MMBtu in 2016. Changes in gas prices affect gas producers’ (IEO) (XES) earnings like Cimarex Energy (XEC), Gulfport Energy (GPOR), and EQT (EQT).