Traders pile into record bearish bets on US natural gas on El Niño winter outlook

Traders are piling into bearish bets on US natural gas, wagering a powerful El Niño will keep temperatures mild and curb heating demand this winter. Money managers held a combined net-short position of more than 140,000 contracts across seven US gas benchmarks, the biggest bearish position since March 2020, Bloomberg reports. A burst of Arctic cold risks upending the trade.

Detected & updated continuously · Source: Nebula