Hedge Funds Turn Bearish on Oil, Bullish on Natural Gas

Traders haven’t been this bearish on oil in months or so bullish on U.S. natural gas in years.  The latest data on money managers’ positioning in the WTI and Brent crude and U.S. natural gas futures showed two contrasting trends—speculators are betting that oil prices would remain low or go even lower while increasing the bets that natural gas prices would continue marching higher. So far this year, geopolitical and supply and demand factors have been increasingly bearish for the oil price outlook and increasingly bullish…