European Gas Funds Cut Net Longs for Second Week

Investment funds and speculators cut their net long positions in European gas for a second straight week before prices hit a three-year high on escalating Middle East tensions. According to Sina Finance, Intercontinental Exchange data showed that as of the week ended September 4, net long positions in Dutch benchmark gas futures fell 4.1%. Tensions in the Persian Gulf later intensified, stoking market concerns over global supply and sending European benchmark gas prices sharply higher. Current positioning remains tilted toward longs.