Speculators Cut Gas Bets to 9-Month Low on Supply Growth
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Hedge funds reduced bullish wagers on natural gas to the lowest level in more than nine months as U.S. shale production surges to an all-time high.
Speculators lowered their net-long position across four benchmark contracts by 12 percent in the week ended Sept. 9, the third consecutive drop, U.S. Commodity Futures Trading Commission data show. Short positions, or bets on falling prices, increased to the most since December.