Gas Bears Bathing in Shale Glut Raise Net Short Bets to Record
- Hedge funds raise net-short gas positions to most since 2010
- Long wagers in U.S. gas contracts drop to record low
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Hedge funds raised bearish bets on U.S. natural gas to a record as warm weather threatened to crimp demand for the heating fuel this winter.
Money managers boosted net-short positions in four U.S. gas contracts by 26 percent in the week ended Sept. 29, the most in U.S. Commodity Futures Trading Commission data going back to 2010. Bullish speculators cut their long-only holdings to a record low.