(Reuters) Hedge fund bullishness towards the price of crude oil appears to have peaked for the time being, with fund managers booking some profits after the strong rally in the final seven weeks of 2016.
Few managers are willing to bet on a pull back in prices at the moment with the number of short positions still towards the bottom end of the range that has prevailed since 2014. But the lack of fresh long positions has removed one of the factors which helped push oil prices higher in the closing weeks of 2016 and prices have been trending down since the turn of the year.
