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Hedge funds ramp up bullish crude positions amid tight US supply
Summary by Hedgeweek
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Hedge funds ramp up bullish crude positions amid tight US supply
Hedge funds have significantly increased bullish wagers on oil, marking the largest surge since June, as signs of tight US inventories and ongoing geopolitical risks drove market sentiment, according to a report by Business Times citing data from ICE Futures Europe and the CFTC. Money managers boosted their combined net-long positions in West Texas Intermediate (WTI) and Brent by 54,183 contracts to 245,650 lots in the week through Tuesday, lift…
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