Hedge Funds Boost Gas Bets First in Six Weeks: Energy Markets
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Hedge funds increased their bets that natural gas prices would rise for the first time in six weeks after hotter-than-normal weather stoked air-conditioning demand.
Natural gas climbed every day last week, the longest-winning streak since November, and advanced 36 cents, or 7.9 percent, to $4.923 per million British thermal units on the New York Mercantile Exchange. Hedge funds and other large speculators increased bullish bets by 14 percent the week ended July 27, the Commodity Futures Trading Commission reported.