Hedge funds boosted bullish gasoline bets to a record as the shutdown of refineries accounting for 24 percent of U.S. East Coast capacity spurred concern that fuel supplies in the region will be insufficient to meet demand.
Gasoline rose to a five-month high last week as the funds and other large speculators increased wagers on rising prices to the highest level in data going back to June 2006, the Commodity Futures Trading commission’s Commitment of Traders report on Jan. 27 showed.
Read more: San Francisco Chronicle
