Oil Rally Finally Pulls Hedge Fund Optimists Off the Sidelines - Bloomberg:
Oil optimists look like they’re finally ready to take the driver’s seat in crude’s rebound.
For the first time this year, a jump in bets that Brent crude prices will rise far surpassed the move by short-sellers, helping set the tone for money managers’ positioning on the global benchmark. Sentiment is now the most bullish since late October.
So far, the mood had hinged mostly on what short-sellers were up to. But in the week ended Feb. 12, bullish bets rose by 10 percent, the most since late August, according to data released Friday. Wagers on falling prices shrank by 5.5 percent
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