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15 Dec 2014
Bullish bets continue to rise in Crude – CFTC
FXStreet (Mumbai) - The hunt for a floor under Crude prices continues as investors added bearish bets on Crude prices during the week ended Dec. 9.
As per the US Commodity Futures Trading Commission (CFTC) data, Money managers, including hedge funds and pension funds, added 724 wagers on higher prices via futures and options contracts and cut 6,169 bets that prices would decline. On the New York Mercantile Exchange, net-long position, rose 3.7% in the week to 191,268 contracts, its highest level since Oct. 7.
During the reporting week, WTI Crude fell 4.6%. Since then, prices declined further to the lowest since May 2009. The WTI Crude ended 3.6% lower on Friday at USD 57.81/barrel.
As per the US Commodity Futures Trading Commission (CFTC) data, Money managers, including hedge funds and pension funds, added 724 wagers on higher prices via futures and options contracts and cut 6,169 bets that prices would decline. On the New York Mercantile Exchange, net-long position, rose 3.7% in the week to 191,268 contracts, its highest level since Oct. 7.
During the reporting week, WTI Crude fell 4.6%. Since then, prices declined further to the lowest since May 2009. The WTI Crude ended 3.6% lower on Friday at USD 57.81/barrel.