Bloomberg – Hedge-fund bets against gasoline exceeded wagers that prices will rise for the first time in almost four years as the fuel fell in the final week of the U.S. driving season.
Net-short positions held by money managers in gasoline futures and options increased to 1,169 contracts the week ended Aug. 31, the first time speculators have been bearish since November 2006, according to the Commodity Futures Trading Commission’s weekly Commitments of Traders report. Hedge funds cut bullish bets for four straight weeks.
