Hedge Funds Snub Natural Gas Rally as Supply Gains Loom
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Hedge funds are betting that the rally in U.S. natural-gas prices won’t last.
Money managers cut the combined net-long position across four benchmark contracts by 21 percent in the week ended Aug. 5, after 15 weeks of above-average stockpile increases. Bullish wagers retreated to an 18-month low even as futures traded in New York gained 2.3 percent in the report week, U.S. Commodity Futures Trading Commission data show.