Investment funds and other speculators boosted their net-long positions in European gas by the most since the first week of the Iran war, signaling a strong conviction that prices still have room to rise as the conflict darkens the supply outlook ahead of winter.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-07-22/funds-bullish-wagers-on-european-gas-jump-the-most-since-war)