Hedge Fund Bets Millions Natural Gas Price Will Rise
Bloomberg – A hedge fund, whose name isn’t disclosed, has placed a large bet that natural gas prices will triple by the Northern Hemisphere winter just as the price of the commodity slides to a seven-year low, the Financial Times reported, which cited New York Mercantile Exchange traders.
Last week, the fund spent millions for the right to buy U.S. natural gas at $10 per million British thermal units in January and February, up from yesterday’s spot level of just above $3 per mBtu, according to the report.
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