Bloomberg – Hedge funds reduced bullish bets on natural gas by the most in eight months as forecasts for warmer- than-usual weather in the eastern U.S. signaled a drop in heating-fuel use with supplies near a seasonal record.
Money managers cut wagers on rising prices for the first time in seven weeks, reducing positions by 56 percent in the seven days ended Feb. 28, according to the Commodity Futures Trading Commission’s Commitments of Traders report. It was the biggest decline since June 28.
