(Bloomberg) OPEC is finally making some headway in its race against the tide of surging U.S. supplies, and speculators are giving the group greater credence. Hedge funds boosted bets on higher West Texas Intermediate crude prices a second week as futures topped $53 a barrel for the first time in a month, U.S. Commodity Futures Trading Commission data show.
Bullish Oil Bets Gain on Signs OPEC Cuts to Outdo U.S. Boom
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