March natural gas prices are lower this morning, and if they close lower, it will be their 8th consecutive down day. It appears that warmer weather for the week ahead has reduced heat-related demand prospects for natural gas, which was highlighted in a report from the National Weather Service. The latest report indicated that US natural gas heat-related demand is expected to average nearly 24.0% below normal during the coming week. The Commitments of Traders Futures and Options report as of February 8th showed non-commercial traders were net short 190,857 contracts, an increase of 8,240. Non-commercial and nonreportable traders combined held a net short position of 148,390 contracts, which represents an increase of 12,991 in their net short position.
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