The short squeeze is on and managed money that is short is covering. According to the latest commitment of traders report released for the date ending 9/3/19, managed money reduced short position in natural gas by 24K contracts while increasing long position by 10K. Currently managed money that is short is 3-times the number that is long, 311K to 135K. Separately, US LNG exports increase week over week. Twelve LNG vessels with a combined LNG-carrying capacity of 43 Bcf departed the United States between August 29 and September 4, according to shipping data compiled by Bloomberg. One vessel was loading at Sabine Pass terminal on Wednesday.
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