Hedge Funds Pile In as Gasoline Inventories Hit Seasonal Low

Money managers have piled up bullish bets on U.S. gasoline futures as seasonal inventories have dropped over the past two months to lower levels than average. While traders, hedge funds, and other portfolio managers have reduced their bullish bets on the U.S. benchmark futures, WTI Crude, the bets on rising U.S. gasoline futures have increased over the latest reporting week and over the weeks since September. The fastest drawdown in gasoline inventories for this time of year since 2010 attracted managed money into the NYMEX gasoline futures, which…