UPDATE 1-U.S. natgas speculators switch from net short to net long - CFTC

(New throughout, adds price background)

June 3 (Reuters) - U.S. natural gas speculators switched to

net long positions this week, betting prices will rise as

production eases and demand picks up to absorb the record-high

amount of fuel left in inventories after a mild winter.

Speculators in four major NYMEX and ICE markets added 10,192

contracts, changing their bets from a bearish 4,695 net shorts

in the week to May 24 to a bullish 5,497 net longs in the week

to May 31, the U.S. Commo

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