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Hedge Funds Make Record Bet on Lower U.S. Diesel Prices

Speculators are making their biggest-ever bet on lower U.S. diesel costs after expanding stockpiles drove prices to a two-year low.

Hedge funds increased net-short wagers on ultra-low sulfur diesel for a fourth week, to the most in U.S. Commodity Futures Trading Commission data that begins in 2006. Prices retreated 17 percent since reaching this year’s high on Jan. 31.