In natural gas, investment funds continued to cut their net long in the Title Transfer Facility (TTF) over the last week, ING's commodity experts Ewa Manthey and Warren Patterson note. 

Investment funds have the smallest net long held since May 2024

"In natural gas, investment funds continued to cut their net long in the Title Transfer Facility (TTF) over the last week, selling 48.1TWh, leaving them with a net long of 126.7TWh. That’s the smallest net long held since May 2024." 

"The move over the last week was driven by fresh shorts entering the market, rather than longs liquidating."