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Hedge Funds Big Bets on European Gas Risk Triggering Slump
general :: 2024-12-16 :: source - bloomberg
By Priscila Azevedo Rocha
Hedge funds piled into Europe’s gas market in the aftermath of the energy crisis, drawn to the intense price volatility. Their clout has grown so big that it now risks triggering a slump.
Funds including Izzy Englander’s Millennium Management, Ken Griffin’s Citadel and Balyasny Asset Management have beefed up hiring and collectively raked in billions through their commodities businesses in recent years. Overall, the sector is heading toward the end of 2024 loaded with record volumes of long positions — effectively a bet that prices will rise.
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