Energy traders are betting the experts are getting it wrong on natural gas. While oil careened toward a bear market in November, methane traded on Nymex has been on a tear: It gained 16 percent so far this month, with front-month futures hitting their highest level since 2016 on Friday at $3.82 per million British thermal units, or mmbtu. Hedge funds reckon the rally isn’t over: Their net long position in futures and options last Tuesday was 242,841 contracts, only a sliver down from the record 251,690 contracts. The short component of that positioning is looking particularly thin, at just 71,503 contracts. Barring ... (full story)