Recent data from the Commitments of Traders (COT) report indicates a week of net selling in the energy and grain sectors, while precious and industrial metals experienced strong demand. For the week ending March 14, U.S. natural gas net long positions decreased by 27 billion cubic feet (bcf), with the Nymex price falling by $0.06 to $4.27 per million British thermal units (MMBtu). In contrast, ICE Brent net long positions rose by 53 million barrels (mmb), a 34% increase, despite Brent futures prices dropping by $0.62 to $70.05 per barrel. The overall net long positions in Brent and WTI combined increased by 34 mmb, though this figure remains 39% below the 2022-24 average and 60% below the 2019-22 average. Additionally, U.S. oil imports have surged by 0.7 million barrels per day (mmb/d), reflecting an 88% increase since 2021, largely offsetting the decline in Russian oil imports to Europe. Meanwhile, the EU has increased its liquefied natural gas (LNG) imports from the U.S., Qatar, and Norway to bolster energy security amid reduced Russian supply.