Week End Fundamental News

The CFTC Commitment of Traders report reveals specs liquidating last week; oil long and natural gas short open interest both coming down.  Bloomberg has a nice summary and groovy charts for both the crude net longs and gas net longs.
Given the still sizable NYMEX NG managed money short open interest at  201,274 contracts, I'd guess there's still a ways to go.
NG Net Longs

Of note also is last weeks Baker Hughes Rig Count, finally starting to decline; the 19 rig decline is all NG.

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