Hedge Funds Lift Gasoline Bets on French Strike: Energy Markets
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Hedge funds raised their bullish bets on gasoline for a seventh straight week on speculation that a French labor strike will curtail European exports to the U.S.
The funds and other large speculators increased wagers on rising prices to 57,640 futures and options contracts for the week ended Oct. 19, the highest level since May 7, according to the Commodity Futures Trading Commission’s weekly Commitments of Traders report. The bets have climbed by 58,809 contracts since the week ended Aug. 31, when wagers on declines outnumbered those for gains by 1,169 contracts.