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The Long and the Short of it - COT Reporting
Natural gas futures surged over 12 percent on Thursday to close at $2.49/MMbtu following an unexpectedly bullish EIA storage report. Analysts interpreted the storage numbers as evidence that coal to gas switching in the power market has not yet reversed as we enter the summer peaking season. The next market report to hit trader’s desks after the EIA storage numbers is the Commodity Futures Trading Commission (CFTC) Commitment of Traders (COT) analysis released later today (Friday). In today’s blog “The Long and Short of It – COT Reporting” Sandy Fielden takes a deeper look at the value of the COT report.
