UPDATE 1-Speculators cut U.S. natgas net longs for 2nd week in a row -CFTC

(Adds details on gas futures, background)

July 29 (Reuters) - U.S. natural gas speculators cut their

net long positions for a second week in a row, betting prices

will decline in the future to encourage power generators to keep

burning record amounts of gas instead of coal.

Speculators in four major NYMEX and ICE markets reduced

their bearish bets by 2,609 contracts to 88,939 in the week to

July 26, the U.S. Commodity Futures Trading Commission said on

Friday. That is the lowest level

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