U.S. Gas Bears Seeing No End to Rout Send Bets to Record
- Money managers boost net-short position by 6.8 percent
- Warm weather may linger in eastern U.S. through late November
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It’s going to take more than a 16-cent rally to spook the bears in the U.S. natural gas market.
Hedge funds boosted their net-short position in gas contracts by 6.8 percent to a record 166,165 in the week ended Nov. 3, even as prices jumped 7.7 percent, according to U.S. Commodity Futures Trading Commission data. Long wagers rose for the first time in six weeks.