Financial Post – Hedge funds raised bullish bets on oil to a four-month high just before futures surged on Federal Reserve Chairman Ben S. Bernanke’s plan for a new round of growth-boosting measures.
Money managers increased net-long positions, or wagers on rising U.S. prices, by 5% in the seven days ended Sept. 11, according to the Commodity Futures Trading Commission’s Commitments of Traders report on Sept. 14. They were at the highest level since the week ended May 1. Funds also enlarged bullish bets on London-traded Brent crude.
