Commitment of Trader's Report - Fund Long Position In Natural Gas Surges By Nearly 50%

The funds were quick to reenter the natural gas market it bottomed in early-March at a new 18-year low.

Friday's Commitment of Trader's report showed the funds long 70,241 natural gas contracts, up 23,177 (49%) from the previous week.

While the fund long position has increased, it remains well below position levels seen during previous rallies.  A lack of conviction, perhaps?  Rightly so, given the current bearish fundamentals.