POWER: Funds Raise German Power Net Short Positions

Investment Funds net short positioning in ICE German power increased last week, according to the latest COT data as of 18 September. * Combined Investment Funds net short positioning edged up by 0.21mn to -2.68mn. Funds net short positions rose by 0.11mn to -2.93mn, while options net longs fell by 0.1mn to +0.25mn. * Combined Investment Firms increased net long positions decreased by 0.97mn to +1.9mn. Futures net longs decreased by 1.05mn to 2.37mn, while options net longs were reduced by 0.08mn to -0.46mn. * Combined Commercial Undertakings switched to a net long position of +0.22mn, up by 1.29mn on the week. Funds switched to a net long position of +0.5mn, up by 1.16mn on the week, while options net short positions decreased by 0.13mn to -0.28mn. * Germany front-month power increased by around 5.1% last week, amid support from the wider energy complex.