Hedge funds and other money managers are back to piling bullish bets on oil, expecting Saudi Arabia’s production cuts this summer to have put a higher floor under prices.
Net long positions in WTI and Brent jumped by most in three months in the period from July 3 to July 11.
Money managers’ positioning is likely to have risen further after the July 11 end of the latest reporting period, considering that lower-than-expected U.S.
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