Hedge funds and money managers have significantly increased their bearish bets against US gasoline, reaching the highest level in over five years amid growing concerns about oversupply, according to a report by Bloomberg.  According to the latest weekly data from the Commodity Futures Trading Commission, short-only positions in Nymex gasoline surged by 4,867 contracts, reaching a total of 34,772 contracts—the highest since January 2019.  This shift has brought investors’ net-long positions to their lowest in about eight months.  US refiners have ramped up production to meet robust summer demand, raising fears of a supply glut despite strong consumption. US gasoline stockpiles are notably higher than the levels recorded in the past two years.