Traders Exit Diesel Short Bets With Europe Set for Cold Weather
Snow falls in Haut de Seine, France, at thge ned of last month.
Photographer: Magali Cohen/AFP/Getty Images
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Money managers are slashing wagers against Europe’s diesel benchmark.
Speculators cut short positions in ICE gasoil for a fourth consecutive week last week, the longest such run since February. The move comes as cold weather in Europe helps boost natural gas prices, offering support to the region’s diesel market.