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Coldest November Since 2000 Turning Gas Traders Bullish

Hedge funds almost tripled bullish bets on natural gas as forecasts for frigid weather east of the Rocky Mountains signaled a surge in demand for the heating fuel.

Speculator net-long position across four benchmark contracts rebounded from the lowest level since March 2012, U.S. Commodity Futures Trading Commission data show. Short positions, or bets on falling prices, fell by the most in more than nine months in the report covering the week ended Nov. 4.