Bloomberg – Hedge funds that exited oil markets late last year have begun boosting bullish bets as tensions with Iran and reports of U.S. economic growth sent crude to the highest price since May.
The funds increased bullish positions 4.1 percent in the week ended Jan. 3, according to the Commodity Futures Trading Commission’s Commitments of Traders report. Open interest advanced 3.5 percent, rising for a second week after falling in December to the lowest since May 2007, according to the CFTC.
