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Bullish gasoline bets slump as cold blast chills demand

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Hedge funds reduced bullish bets on gasoline by the most since June as stockpiles surged to an 11-month high before a cold blast that probably will curb demand in the U.S. Midwest and Northeast. Money managers cut net-long positions, or wagers on rising prices by 22 percent in the week ended Jan. 14 to the lowest level since Nov. 19, U.S. Commodity Futures Trading Commission data show....