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Hedge Funds Bolster Brent Crude Net-Longs to One-Month High

Bloomberg – Hedge funds and other money managers raised bullish bets on Brent crude to their highest level in a month, according to data from ICE Futures Europe.

Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 181,400 lots in the week ended July 16, the London-based exchange said today in its weekly Commitments of Traders report. The increase of 4,412 contracts, or 2.5 percent, is the third consecutive weekly gain and brings net-longs to their highest level since June 18.

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