CT Post – Hedge funds raised bets on higher crude prices to a four-week high as increased airstrikes in Libya raised concerns about production after the country’s conflict ends and the dollar weakened against the euro.
Funds and other large speculators increased net-long positions, or wagers on rising prices, by 4.5 percent in the seven days ended April 5, according to the Commodity Futures Trading Commission’s weekly Commitments of Traders report. Open interest, the number of contracts that haven’t been closed or delivered, rose 17 percent this year, the data showed.
