Natural Gas COT Report
Positions in NYMEX Henry Hub natural gas futures (10,000 MMBtu) as of Tuesday Oct 13, 2026, released by the CFTC on Friday Oct 16, 2026. Next report: positions as of Oct 20, 2026, scheduled for release on Friday Oct 23, 2026 at 3:30 p.m. ET.
CFTC Commitments of Traders report as of Oct 13, 2026
What changed this week
In the week to Tuesday Oct 13, 2026, large speculators (non-commercial traders) in natural gas futures cut their net short by 2,861 contracts to 233,578. Their 3-year COT index stands at 2, on a scale where 0 is the lowest net position of the past 3 years (-236,439 on Oct 6, 2026) and 100 the highest (-54,652 on Oct 31, 2023). In the Disaggregated report, managed money traders were net short 126,481 contracts, a weekly change of +18,056. Commercial hedgers were net long 218,838, a weekly change of -1,009. Open interest fell by 74,827 to 1,741,163 contracts.
Positions by trader group
Contracts · Oct 13, 2026| Trader group | Report | Long | Short | Net | Net, w/w | Net % OI | 3-yr COT index |
|---|---|---|---|---|---|---|---|
| Large speculators (non-commercial) | Legacy | 277,328 | 510,906 | -233,578 | +2,861 | -13.4% | 2 |
| Commercials (hedgers) | Legacy | 610,541 | 391,703 | +218,838 | -1,009 | +12.6% | 99 |
| Small traders (non-reportable) | Legacy | 54,721 | 39,981 | +14,740 | -1,852 | +0.8% | 40 |
| Managed money | Disaggregated | 227,211 | 353,692 | -126,481 | +18,056 | -7.3% | 13 |
| Producers, merchants, processors & users | Disaggregated | 239,597 | 250,478 | -10,881 | -2,652 | -0.6% | 74 |
| Swap dealers | Disaggregated | 252,964 | 23,245 | +229,719 | +1,643 | +13.2% | 100 |
| Other reportables | Disaggregated | 50,117 | 157,214 | -107,097 | -15,195 | -6.2% | 43 |
- Large speculators (non-commercial): Reportable traders that do not qualify as commercial hedgers for this commodity.
- Commercials (hedgers): Reportable traders whose futures positions in this commodity are hedges as defined in CFTC Regulation 1.3.
- Small traders (non-reportable): Open interest left after subtracting all reportable positions; positions below the CFTC reporting levels.
- Managed money: Registered commodity trading advisors and pool operators, and unregistered funds the CFTC identifies.
- Producers, merchants, processors & users: Firms that produce, process, pack or handle the physical commodity and hedge that business.
- Swap dealers: Firms that deal primarily in swaps on the commodity and hedge those swaps in futures.
- Other reportables: Reportable traders that fit none of the three categories above.
Large speculators' net position, last 5 years
Contracts, weeklyCOT index by lookback (large speculators)
| Lookback | COT index | Percentile | Range low | Range high |
|---|---|---|---|---|
| 26 weeks | 4 | 8% | -236,439 Oct 6, 2026 | -165,307 Jul 7, 2026 |
| 52 weeks | 2 | 4% | -236,439 Oct 6, 2026 | -106,479 Dec 9, 2025 |
| 3 years | 2 | 1% | -236,439 Oct 6, 2026 | -54,652 Oct 31, 2023 |
| All history (since 2006) | 9 | 2% | -262,061 Jun 9, 2015 | +70,949 Oct 20, 2020 |
0 = lowest net position of the lookback, 100 = highest. Percentile = share of weeks in the lookback with a net position at or below this week's.
Positioning extremes
| Window | Highest net | Lowest net |
|---|---|---|
| Past 52 weeks | -106,479 Dec 9, 2025 | -236,439 Oct 6, 2026 |
| Past 3 years | -54,652 Oct 31, 2023 | -236,439 Oct 6, 2026 |
| Past 5 years | -50,659 Oct 10, 2023 | -236,439 Oct 6, 2026 |
| Since Jan 3, 2006 | +70,949 Oct 20, 2020 | -262,061 Jun 9, 2015 |
| Window | Highest net | Lowest net |
|---|---|---|
| Past 52 weeks | -47 Feb 3, 2026 | -144,537 Oct 6, 2026 |
| Past 3 years | +108,350 Mar 4, 2025 | -160,729 Feb 20, 2024 |
| Past 5 years | +108,350 Mar 4, 2025 | -160,729 Feb 20, 2024 |
| Since Jun 13, 2006 | +279,113 Nov 13, 2018 | -331,548 Feb 11, 2020 |
Weekly history, last 3 years
Download full history (CSV)| Report date | Large specs net | w/w | Managed money net | Commercials net | Open interest | 3-yr index |
|---|---|---|---|---|---|---|
| 2026-10-13 | -233,578 | +2,861 | -126,481 | +218,838 | 1,741,163 | 2 |
| 2026-10-06 | -236,439 | -5,419 | -144,537 | +219,847 | 1,815,990 | 0 |
| 2026-09-29 | -231,020 | -14,490 | -132,799 | +213,503 | 1,782,129 | 0 |
| 2026-09-22 | -216,530 | +5,057 | -65,547 | +203,524 | 1,837,146 | 3 |
| 2026-09-15 | -221,587 | -1,820 | -100,205 | +206,752 | 1,820,003 | 0 |
| 2026-09-08 | -219,767 | -10,856 | -96,742 | +201,126 | 1,823,243 | 0 |
| 2026-09-01 | -208,911 | -10,979 | -89,481 | +193,432 | 1,807,497 | 0 |
| 2026-08-25 | -197,932 | +5,571 | -71,673 | +187,737 | 1,747,730 | 5 |
| 2026-08-18 | -203,503 | -6,368 | -100,080 | +188,326 | 1,727,378 | 2 |
| 2026-08-11 | -197,135 | +411 | -110,630 | +180,677 | 1,692,411 | 6 |
| 2026-08-04 | -197,546 | -6,747 | -126,933 | +187,214 | 1,705,908 | 6 |
| 2026-07-28 | -190,799 | -19,661 | -105,826 | +179,664 | 1,672,441 | 10 |
| 2026-07-21 | -171,138 | +7,474 | -102,756 | +159,102 | 1,679,435 | 23 |
| 2026-07-14 | -178,612 | -13,305 | -105,709 | +165,528 | 1,663,336 | 18 |
| 2026-07-07 | -165,307 | +5,496 | -60,295 | +149,504 | 1,669,775 | 26 |
| 2026-06-30 | -170,803 | +5,886 | -64,808 | +153,940 | 1,634,535 | 23 |
| 2026-06-23 | -176,689 | -3,213 | -82,722 | +161,767 | 1,613,059 | 19 |
| 2026-06-16 | -173,476 | +20,481 | -84,909 | +162,754 | 1,644,546 | 21 |
| 2026-06-09 | -193,957 | -7,842 | -122,617 | +175,738 | 1,637,740 | 8 |
| 2026-06-02 | -186,115 | +17,066 | -114,854 | +173,913 | 1,664,003 | 13 |
| 2026-05-26 | -203,181 | -10,985 | -134,426 | +190,178 | 1,640,082 | 2 |
| 2026-05-19 | -192,196 | -15,890 | -96,303 | +174,224 | 1,599,429 | 9 |
| 2026-05-12 | -176,306 | -9,660 | -120,065 | +159,243 | 1,628,279 | 19 |
| 2026-05-05 | -166,646 | -373 | -107,489 | +153,150 | 1,628,637 | 26 |
| 2026-04-28 | -166,273 | +2,042 | -97,245 | +151,035 | 1,578,600 | 26 |
| 2026-04-21 | -168,315 | +18,573 | -100,574 | +150,316 | 1,576,663 | 24 |
| 2026-04-14 | -186,888 | -2,901 | -114,095 | +170,912 | 1,585,240 | 13 |
| 2026-04-07 | -183,987 | -16,531 | -86,033 | +162,087 | 1,558,863 | 14 |
| 2026-03-31 | -167,456 | +5,151 | -67,616 | +148,428 | 1,514,508 | 25 |
| 2026-03-24 | -172,607 | +5,422 | -54,155 | +152,748 | 1,504,052 | 22 |
| 2026-03-17 | -178,029 | +8,827 | -44,628 | +157,406 | 1,560,291 | 18 |
| 2026-03-10 | -186,856 | +19,566 | -62,982 | +164,172 | 1,565,341 | 13 |
| 2026-03-03 | -206,422 | -7,903 | -76,252 | +184,360 | 1,606,292 | 0 |
| 2026-02-24 | -198,519 | -12,707 | -75,875 | +183,181 | 1,619,531 | 0 |
| 2026-02-17 | -185,812 | -13,947 | -26,765 | +174,798 | 1,613,556 | 5 |
| 2026-02-10 | -171,865 | +445 | -8,188 | +159,442 | 1,623,408 | 15 |
| 2026-02-03 | -172,310 | -8,704 | -47 | +163,456 | 1,655,983 | 15 |
| 2026-01-27 | -163,606 | +29,884 | -21,934 | +152,767 | 1,625,943 | 21 |
| 2026-01-20 | -193,490 | -7,889 | -77,101 | +182,060 | 1,614,025 | 0 |
| 2026-01-13 | -185,601 | -20,042 | -105,134 | +172,844 | 1,635,220 | 0 |
| 2026-01-06 | -165,559 | -10,665 | -101,384 | +153,914 | 1,596,169 | 12 |
| 2025-12-30 | -154,894 | +1,426 | -83,965 | +144,624 | 1,533,985 | 20 |
| 2025-12-23 | -156,320 | -28,283 | -106,407 | +147,597 | 1,557,649 | 19 |
| 2025-12-16 | -128,037 | -21,558 | -66,328 | +115,907 | 1,574,623 | 41 |
| 2025-12-09 | -106,479 | +20,000 | -31,091 | +84,718 | 1,550,763 | 57 |
| 2025-12-02 | -126,479 | +11,924 | -39,973 | +113,085 | 1,524,306 | 42 |
| 2025-11-25 | -138,403 | -684 | -65,346 | +125,147 | 1,493,602 | 33 |
| 2025-11-18 | -137,719 | +2,310 | -59,654 | +122,658 | 1,506,695 | 33 |
| 2025-11-10 | -140,029 | +1,510 | -52,820 | +125,536 | 1,535,138 | 31 |
| 2025-11-04 | -141,539 | +3,757 | -43,986 | +128,127 | 1,576,226 | 30 |
| 2025-10-28 | -145,296 | +13,483 | -41,704 | +138,860 | 1,629,494 | 27 |
| 2025-10-21 | -158,779 | -6,666 | -45,917 | +151,847 | 1,682,048 | 17 |
| 2025-10-14 | -152,113 | -10,152 | -75,339 | +142,531 | 1,674,169 | 22 |
| 2025-10-07 | -141,961 | -16,761 | -33,400 | +135,936 | 1,640,321 | 30 |
| 2025-09-30 | -125,200 | +2,884 | -31,166 | +118,294 | 1,659,086 | 43 |
| 2025-09-23 | -128,084 | -17,140 | -63,176 | +119,742 | 1,626,777 | 41 |
| 2025-09-16 | -110,944 | -16,397 | -23,091 | +104,419 | 1,638,680 | 54 |
| 2025-09-09 | -94,547 | +8,229 | -24,752 | +83,316 | 1,631,092 | 66 |
| 2025-09-02 | -102,776 | +1,170 | -36,762 | +89,212 | 1,635,669 | 60 |
| 2025-08-26 | -103,946 | +1,142 | -44,032 | +87,825 | 1,619,404 | 59 |
| 2025-08-19 | -105,088 | -8,042 | -36,687 | +87,462 | 1,603,770 | 58 |
| 2025-08-12 | -97,046 | -3,281 | -50,733 | +77,214 | 1,618,091 | 64 |
| 2025-08-05 | -93,765 | -8,012 | -27,669 | +75,583 | 1,607,527 | 67 |
| 2025-07-29 | -85,753 | -8,153 | -13,009 | +67,984 | 1,550,942 | 73 |
| 2025-07-22 | -77,600 | -3,550 | -30,085 | +58,808 | 1,525,865 | 79 |
| 2025-07-15 | -74,050 | +13,741 | -19,387 | +59,278 | 1,550,988 | 82 |
| 2025-07-08 | -87,791 | +5,055 | -47,083 | +66,935 | 1,519,629 | 71 |
| 2025-07-01 | -92,846 | +970 | -51,820 | +71,879 | 1,499,596 | 68 |
| 2025-06-24 | -93,816 | -1,298 | -60,968 | +74,781 | 1,491,798 | 67 |
| 2025-06-17 | -92,518 | +15,964 | -62,788 | +77,933 | 1,529,833 | 68 |
| 2025-06-10 | -108,482 | -3,586 | -84,200 | +94,840 | 1,540,367 | 56 |
| 2025-06-03 | -104,896 | +24,206 | -52,418 | +92,182 | 1,504,141 | 58 |
| 2025-05-27 | -129,102 | -15,200 | -63,286 | +116,102 | 1,470,148 | 40 |
| 2025-05-20 | -113,902 | -1,823 | -56,502 | +103,343 | 1,497,884 | 51 |
| 2025-05-13 | -112,079 | +5,086 | -38,523 | +103,654 | 1,530,591 | 53 |
| 2025-05-06 | -117,165 | -4,767 | -45,177 | +112,635 | 1,510,862 | 49 |
| 2025-04-29 | -112,398 | -8,256 | -44,712 | +111,043 | 1,471,360 | 53 |
| 2025-04-22 | -104,142 | +12,984 | -25,623 | +90,086 | 1,459,629 | 59 |
| 2025-04-15 | -117,126 | -7,946 | +5,637 | +96,122 | 1,506,409 | 49 |
| 2025-04-08 | -109,180 | +13,435 | +20,179 | +86,872 | 1,590,806 | 55 |
| 2025-04-01 | -122,615 | +9,294 | +25,508 | +94,401 | 1,636,159 | 45 |
| 2025-03-25 | -131,909 | -8,866 | +40,755 | +106,547 | 1,606,111 | 38 |
| 2025-03-18 | -123,043 | -30,053 | +65,113 | +95,766 | 1,580,223 | 44 |
| 2025-03-11 | -92,990 | -13,846 | +91,617 | +72,267 | 1,645,622 | 68 |
| 2025-03-04 | -79,144 | -5,361 | +108,350 | +58,695 | 1,631,662 | 78 |
| 2025-02-25 | -73,783 | +20,833 | +106,820 | +52,459 | 1,595,779 | 82 |
| 2025-02-18 | -94,616 | -14,084 | +104,031 | +78,750 | 1,578,394 | 66 |
| 2025-02-11 | -80,532 | -8,334 | +74,050 | +62,322 | 1,546,388 | 77 |
| 2025-02-04 | -72,198 | -7,156 | +48,667 | +51,841 | 1,559,758 | 83 |
| 2025-01-28 | -65,042 | +3,419 | +52,641 | +47,768 | 1,568,450 | 89 |
| 2025-01-21 | -68,461 | +3,122 | +47,899 | +50,766 | 1,601,438 | 86 |
| 2025-01-14 | -71,583 | +33,184 | +56,860 | +59,975 | 1,573,055 | 84 |
| 2025-01-07 | -104,767 | +13,306 | +21,896 | +98,616 | 1,549,749 | 58 |
| 2024-12-31 | -118,073 | +2,203 | -3,800 | +110,904 | 1,500,276 | 48 |
| 2024-12-24 | -120,276 | +7,925 | -2,709 | +121,502 | 1,517,647 | 47 |
| 2024-12-17 | -128,201 | +12,378 | -66,305 | +123,843 | 1,559,585 | 40 |
| 2024-12-10 | -140,579 | +11,044 | -79,783 | +137,722 | 1,575,117 | 31 |
| 2024-12-03 | -151,623 | +1,769 | -73,046 | +148,512 | 1,638,982 | 22 |
| 2024-11-26 | -153,392 | +7,657 | -61,087 | +151,709 | 1,640,388 | 21 |
| 2024-11-19 | -161,049 | -4,930 | -122,689 | +157,678 | 1,706,065 | 15 |
| 2024-11-12 | -156,119 | +329 | -137,491 | +151,700 | 1,763,552 | 19 |
| 2024-11-05 | -156,448 | +9,725 | -146,937 | +149,324 | 1,781,294 | 19 |
| 2024-10-29 | -166,173 | +12 | -133,236 | +162,932 | 1,670,416 | 11 |
| 2024-10-22 | -166,185 | -26,807 | -132,437 | +155,837 | 1,644,880 | 11 |
| 2024-10-15 | -139,378 | -15,820 | -80,721 | +127,136 | 1,556,886 | 32 |
| 2024-10-08 | -123,558 | -14,564 | -19,554 | +114,610 | 1,483,043 | 44 |
| 2024-10-01 | -108,994 | -17,497 | -13,198 | +96,588 | 1,495,890 | 55 |
| 2024-09-24 | -91,497 | -1,921 | -12,301 | +82,482 | 1,496,022 | 69 |
| 2024-09-17 | -89,576 | -1,971 | -37,176 | +76,072 | 1,537,175 | 70 |
| 2024-09-10 | -87,605 | +12,688 | -50,977 | +74,435 | 1,552,355 | 72 |
| 2024-09-03 | -100,293 | -8,088 | -70,552 | +85,351 | 1,558,349 | 62 |
| 2024-08-27 | -92,205 | -10,952 | -71,539 | +78,388 | 1,532,068 | 68 |
| 2024-08-20 | -81,253 | -483 | -40,040 | +66,914 | 1,518,979 | 77 |
| 2024-08-13 | -80,770 | -14,430 | -61,396 | +63,254 | 1,525,250 | 77 |
| 2024-08-06 | -66,340 | +16,797 | -52,907 | +48,544 | 1,587,318 | 88 |
| 2024-07-30 | -83,137 | +5,214 | -53,863 | +66,745 | 1,547,767 | 75 |
| 2024-07-23 | -88,351 | +5,183 | -57,511 | +71,419 | 1,532,886 | 71 |
| 2024-07-16 | -93,534 | +11,938 | -59,955 | +74,200 | 1,589,266 | 67 |
| 2024-07-09 | -105,472 | -15,184 | -35,687 | +85,587 | 1,550,344 | 58 |
| 2024-07-02 | -90,288 | -1,026 | +1,997 | +74,459 | 1,508,732 | 70 |
| 2024-06-25 | -89,262 | +14,823 | +34,632 | +75,440 | 1,466,177 | 70 |
| 2024-06-18 | -104,085 | -1,327 | +39,561 | +90,836 | 1,451,261 | 59 |
| 2024-06-11 | -102,758 | -3,093 | +42,390 | +90,751 | 1,453,510 | 60 |
| 2024-06-04 | -99,665 | -24,242 | +16,290 | +85,489 | 1,475,789 | 62 |
| 2024-05-28 | -75,423 | +14,672 | +43,206 | +60,795 | 1,501,651 | 81 |
| 2024-05-21 | -90,095 | +26,537 | +16,569 | +76,866 | 1,529,956 | 70 |
| 2024-05-14 | -116,632 | +19,136 | -11,080 | +104,743 | 1,546,190 | 49 |
| 2024-05-07 | -135,768 | +14,465 | -56,029 | +120,578 | 1,560,152 | 35 |
| 2024-04-30 | -150,233 | -17,755 | -103,800 | +133,024 | 1,559,471 | 24 |
| 2024-04-23 | -132,478 | -603 | -89,013 | +115,011 | 1,542,979 | 37 |
| 2024-04-16 | -131,875 | -3,978 | -115,934 | +105,768 | 1,582,452 | 37 |
| 2024-04-09 | -127,897 | -9,167 | -88,547 | +103,254 | 1,550,045 | 41 |
| 2024-04-02 | -118,730 | -1,457 | -83,686 | +96,030 | 1,590,071 | 48 |
| 2024-03-26 | -117,273 | -13,678 | -86,097 | +92,359 | 1,543,743 | 44 |
| 2024-03-19 | -103,595 | -2,102 | -88,165 | +71,906 | 1,590,503 | 54 |
| 2024-03-12 | -101,493 | +27,255 | -99,209 | +69,911 | 1,595,652 | 55 |
| 2024-03-05 | -128,748 | +12,805 | -106,598 | +98,488 | 1,533,317 | 29 |
| 2024-02-27 | -141,553 | +12,319 | -121,448 | +112,195 | 1,500,882 | 20 |
| 2024-02-20 | -153,872 | -17,315 | -160,729 | +115,544 | 1,592,460 | 13 |
| 2024-02-13 | -136,557 | -22,326 | -130,165 | +99,480 | 1,554,063 | 20 |
| 2024-02-06 | -114,231 | -11,048 | -96,737 | +82,686 | 1,533,041 | 30 |
| 2024-01-30 | -103,183 | -22,602 | -70,521 | +76,254 | 1,471,807 | 35 |
| 2024-01-23 | -80,581 | -24,073 | -37,933 | +58,391 | 1,444,172 | 46 |
| 2024-01-16 | -56,508 | +9,639 | -6,519 | +39,539 | 1,405,826 | 57 |
| 2024-01-09 | -66,147 | +25,500 | -44,055 | +55,002 | 1,406,951 | 52 |
| 2024-01-02 | -91,647 | +14,473 | -78,490 | +77,649 | 1,396,907 | 41 |
| 2023-12-26 | -106,120 | +398 | -104,991 | +87,925 | 1,354,610 | 34 |
| 2023-12-19 | -106,518 | +5,099 | -121,738 | +84,529 | 1,385,269 | 34 |
| 2023-12-12 | -111,617 | -538 | -124,614 | +88,022 | 1,412,602 | 32 |
| 2023-12-05 | -111,079 | -3,190 | -122,449 | +89,350 | 1,339,392 | 32 |
| 2023-11-28 | -107,889 | +12,370 | -104,735 | +87,193 | 1,312,707 | 33 |
| 2023-11-21 | -120,259 | -17,632 | -103,257 | +96,557 | 1,316,640 | 27 |
| 2023-11-14 | -102,627 | -32,657 | -70,477 | +83,245 | 1,296,464 | 34 |
| 2023-11-07 | -69,970 | -15,318 | -36,486 | +50,358 | 1,243,268 | 47 |
| 2023-10-31 | -54,652 | +15,620 | +15,361 | +39,924 | 1,186,140 | 53 |
| 2023-10-24 | -70,272 | -12,946 | -22,425 | +51,221 | 1,211,450 | 47 |
| 2023-10-17 | -57,326 | -6,667 | -5,687 | +34,199 | 1,182,071 | 49 |
Year-by-year history (large speculators)
| Year | Reports | Average net | Highest | Lowest | Last report | Avg open interest |
|---|---|---|---|---|---|---|
| 2026 | 41 | -189,336 | -163,606 Jan 27 | -236,439 Oct 6 | -233,578 | 1,656,331 |
| 2025 | 52 | -109,673 | -65,042 Jan 28 | -158,779 Oct 21 | -154,894 | 1,568,130 |
| 2024 | 53 | -113,409 | -56,508 Jan 16 | -166,185 Oct 22 | -118,073 | 1,546,218 |
| 2023 | 52 | -120,154 | -50,659 Oct 10 | -180,913 Feb 28 | -106,120 | 1,245,891 |
| 2022 | 52 | -135,711 | -110,368 May 31 | -170,925 Nov 22 | -160,602 | 1,045,684 |
| 2021 | 52 | -86,381 | +38,775 Feb 16 | -166,577 Aug 24 | -146,217 | 1,273,927 |
| 2020 | 52 | -54,091 | +70,949 Oct 20 | -261,528 Jan 28 | +7,894 | 1,286,343 |
| 2019 | 52 | -114,771 | +17,884 Jan 22 | -222,310 Dec 3 | -202,167 | 1,266,273 |
| 2018 | 53 | -62,112 | +35,173 Nov 27 | -141,200 Jan 2 | +6,632 | 1,470,786 |
| 2017 | 52 | -42,088 | +56,618 May 16 | -170,035 Dec 26 | -170,035 | 1,369,173 |
| 2016 | 52 | -121,284 | +120 Dec 20 | -207,347 Mar 8 | -233 | 1,075,922 |
| 2015 | 52 | -223,513 | -202,261 May 26 | -262,061 Jun 9 | -207,872 | 991,540 |
| 2014 | 52 | -126,727 | -42,002 Jan 28 | -224,207 Dec 30 | -224,207 | 1,046,557 |
| 2013 | 52 | -116,025 | -49,604 May 7 | -169,061 Nov 12 | -105,052 | 1,339,884 |
| 2012 | 53 | -105,492 | -49,004 Oct 30 | -160,449 Dec 31 | -160,449 | 1,172,483 |
| 2011 | 52 | -191,466 | -154,160 Jun 7 | -259,831 Mar 1 | -160,591 | 948,236 |
| 2010 | 52 | -171,213 | -146,281 Jul 6 | -205,155 Apr 20 | -199,624 | 807,011 |
| 2009 | 52 | -147,380 | -114,064 Mar 10 | -176,818 Aug 25 | -146,529 | 701,802 |
| 2008 | 52 | -115,487 | -57,682 Apr 22 | -177,606 Sep 30 | -144,814 | 877,924 |
| 2007 | 53 | -42,506 | +12,400 Jan 3 | -114,968 Dec 24 | -103,489 | 796,342 |
| 2006 | 52 | +3,486 | +51,544 Nov 28 | -50,677 Jan 17 | +9,475 | 799,592 |
About this data
Source: the U.S. Commodity Futures Trading Commission's Commitments of Traders reports, read from the CFTC's public reporting API. Contract: NYMEX Henry Hub natural gas futures (10,000 MMBtu), CFTC contract market code 023651. Every figure is in contracts and comes from the futures-only reports: the Legacy report (dataset 6dca-aqww) for large speculators, commercials and small traders, and the Disaggregated report (dataset 72hh-3qpy) for managed money, producers and merchants, and swap dealers.
Net position = long minus short contracts; spreading positions are excluded. Weekly changes for the Legacy groups are the CFTC's own; for the Disaggregated groups they are the difference from the previous report. The COT index and percentiles are AlphaScala calculations over the stored weekly history, which starts on Jan 3, 2006 (1,085 reports). The data describes what traders held on each Tuesday; it is not a forecast or a recommendation. See the methodology for how AlphaScala sources data.
FAQ
What does the Natural Gas COT report show?
The CFTC's weekly Commitments of Traders report breaks down open interest in NYMEX Henry Hub natural gas futures (10,000 MMBtu), CFTC contract code 023651, by type of trader. This page uses two of its reports: the Legacy report, which splits reportable traders into commercial and non-commercial, and the Disaggregated report, which splits them into producers and merchants, swap dealers, managed money and other reportables. Both are the futures-only versions, so options positions are not included. The latest report here holds positions as of Oct 13, 2026.
When is the COT report released?
The CFTC collects positions as of the close of business on Tuesday and generally publishes them on Friday at 3:30 p.m. Eastern time. A federal holiday between the Tuesday and the Friday delays the release, typically to the following Monday (Veterans Day, Thanksgiving and Christmas weeks, for example), and the CFTC lists those dates on its release schedule in advance; a Monday holiday such as Columbus Day does not. Publication stops during a lapse in federal funding, with the missed reports released afterwards. AlphaScala checks for the new report on Friday evening and again on Monday (UTC).
Who counts as a large speculator in the COT report?
In the Legacy report, a reportable trader is classified as commercial in a commodity if it uses futures in that commodity for hedging as defined in CFTC Regulation 1.3. Traders generally get that classification by filing CFTC Form 40, and CFTC staff can reclassify them. Every other reportable trader is non-commercial, the group COT readers call large speculators. A trader can be commercial in one commodity and non-commercial in another, but not both in the same commodity.
What is managed money in the COT report?
In the Disaggregated report, managed money means registered commodity trading advisors (CTAs), registered commodity pool operators (CPOs) and unregistered funds the CFTC identifies, all trading futures on behalf of clients. It is narrower than the Legacy non-commercial group. The report's other categories are producers, merchants, processors and users of the physical commodity, swap dealers, and other reportable traders.
What are non-reportable positions?
The CFTC sets a reporting level for each contract, and clearing members, futures commission merchants and foreign brokers report every trader at or above it. Non-reportable positions are what is left of open interest after subtracting all reportable positions, so the number of those traders and whether they are hedgers is unknown. They are usually read as small traders.
How is the COT index calculated?
COT index = (current net position − lowest net position in the lookback) ÷ (highest − lowest) × 100, using the weekly net position of large speculators (longs minus shorts; spreading positions are left out). 0 is the most net short, or least net long, of the lookback and 100 the most net long. AlphaScala shows 26-week, 52-week and 3-year versions, plus a percentile: the share of weeks in the window with a net position at or below the current one. Both describe positioning relative to its own history; neither is a forecast.