Oil Slump Catches Funds Off Guard in Longest Bull Run Since 2012 - Bloomberg:
Oil’s sudden slump seems to have caught optimists by surprise.
Hedge funds increased wagers on rising Brent crude prices for an eighth straight week, the longest streak since 2012, according to ICE Futures Europe data for the seven days through Feb. 26.
But the enthusiasm has proved to be misplaced, at least for now. The international benchmark posted a weekly loss for the first time since early February as President Donald Trump warned OPEC to “take it easy" in cutting supplies and U.S. economic data fell short of expectations. Brent lost 3.1 percent for the week, after rising 25 percent to start the year.
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