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Hedge Funds Add Bullish Oil Bets as Mideast Tension Heats Up

(Bloomberg) The Middle East is kicking things up a notch in the oil market. Hedge-fund bets on rising Brent crude hit a fresh record as tension in the oil-rich region escalated, sending prices to their highest in more than two years. Disruptions in exporters Libya, Nigeria and Venezuela in past months hadn’t fazed investors enough to trigger strong rallies, but Saudi Arabia and Iran? That’s another story.

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