September 19, 2006
Overheated Energy Market Makes Hedge Fund Lose Billions
Amaranth Advisors, a leading US-based hedge fund says that volatile energy prices may cost it billions of dollars. The firm, which had invested in energy and commodities to capitalise on soaring prices, is now aggressively reducing its exposure to natural gas to protect its investors. Bbc.co.uk reports:
There has been a sharp fall in energy prices on international markets during the past six weeks as concerns over oil and gas supplies have eased. US natural gas prices, called futures, have slipped 40% since August. They had risen sharply after hurricanes disrupted supplies last year.
Read more: Hedge fund takes hit for billions
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