As of the week ending November 29, 2024, U.S. natural gas net long positions decreased by 11 billion cubic feet (bcf), or 18%, with long positions falling by 8 bcf (4%) and short positions rising by 3 bcf (1%). Concurrently, the Nymex price for natural gas rose by $0.21, or 7%, from $3.13 to $3.34. In the crude oil market, ICE Brent net long positions increased by 22 million barrels (mmb), or 16%, driven by a 9 mmb rise in long positions and a 13 mmb decrease in shorts. However, Brent futures saw a price decline of $0.87, or 1%, from $73.76 to $72.90. WTI net long positions also rose by 5 mmb, or 4%, with long positions increasing by 7 mmb and shorts rising by 2 mmb; the WTI price decreased by $1.14, or 2%, from $69.75 to $68.61. Despite these variations, oil prices remained steady, with Brent near $71 a barrel and WTI above $67, following Saudi Arabia's unexpected crude price cuts for Asia. This reflects weak market sentiment, even as OPEC+ has delayed production increases. As of December 9, Brent settled at $71.12, down 1.4%, while WTI fell to $67.20, down 1.6%, amid concerns of surplus and postponed output hikes extending through 2026 due to weak demand.