NYMEX natgas funds trim net short futures

NEW YORK, July 6 (Reuters) - Noncommercial or speculative investment funds on the New York Mercantile Exchange decreased their net short natural gas futures exposure by about 540 contracts for the week ended June 30, the Commodity Futures Trading Commission said in a report on Monday.

The report showed funds holding 153,269 net short futures, down 539 contracts from the previous week's total of 153,808.

Funds had added to their net short natural gas futures positions in 14 of the last 16 weeks.

Noncommercial speculative traders increased their total short futures exposure by 18,580 contracts to 247,608, while they added 19,119 longs to 95,339.

Fund net short futures only positions hit a record high of 177,606 in late September.

The largest net long futures only position ever held by funds was 55,495 in August 1999.

For the week ended June 30, total natural gas futures open interest, or the number of longs or shorts outstanding, rose 13,509 contracts to 712,804.

In combined futures and options, the report showed funds added 885 contracts to their net short positions, increasing the total to 68,110.

Fund net short futures and options positions combined hit a record high 285,828 last July. (Reporting by Eileen Moustakis)