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Hedge Funds Ditch Bullish U.S. Gas Bets Amid Worst Rout in Year

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Hedge funds jettisoned bullish bets on U.S. natural gas after prices plunged 15 percent in a week, the steepest drop in a year.

Money managers cut their net-long position in gas contracts by 6 percent, the most since August. Long wagers slipped 5 percent in the week ended Oct. 25 while bearish bets fell 1 percent, according to U.S. Commodity Futures Trading Commission data.