Funds’ Bullish Wagers on European Gas Jump the Most Since War
Bloomberg 2026-07-22 08:39:14
Context: Investment funds and other speculators have significantly increased their bullish wagers on European gas, with net-long positions rising by the most since the start of the Iran war. This surge in optimism suggests that these investors expect gas prices to continue rising due to concerns over supply disruptions caused by the ongoing conflict. The increased bets come as winter approaches, a period of typically high demand for gas.
Key Facts
- Investment funds and other speculators increased their net-long positions in European gas by the most since the first week of the Iran war, according to data.
- The surge in net-long positions signals a strong conviction among these investors that gas prices still have room to rise as the conflict darkens the supply outlook ahead of winter.
- The increased bullish wagers come as winter approaches, a period of typically high demand for gas, further indicating that investors expect supply constraints to drive prices up.