Reuters – Hedge fund and other large speculators’ bets on rising Brent crude oil prices jumped last week to the highest since July, exchange data showed on Monday, as a price rally squeezed out short positions.
Speculators’ net long positions in Brent, the difference between bets on rising and falling prices, rose by 18,391 contracts to 158,974 in the week to February 10, a move driven entirely by funds closing out short positions as Brent rallied to its highest level this year.
