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WTI Crude Gains a Fourth Day as Funds Boost Bullish Bets

Bloomberg – West Texas Intermediate rose for a fourth day after hedge funds increased bullish bets on the U.S. benchmark crude amid declining stockpiles.

Futures climbed as much as 0.6 percent in New York after capping a fourth weekly advance. WTI surpassed Brent by as much as 3 cents in intraday trading on July 19 as pipeline and rail shipments helped clear a U.S. supply bottleneck. Crude supplies have dropped by 27.1 million barrels in the three weeks ended July 12, according to the Energy Information Administration.

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