Hedge Fund Oil Bulls Return on Recovery Signs: Energy Markets

Hedge funds and other large speculators raised bets on gains in oil prices for the first time in five weeks on renewed signs the U.S. economy is recovering from the worst recession since the 1930s.

Net-long positions on the New York Mercantile Exchange climbed 8 percent in the week ended Sept. 7, the first increase since the seven days ended Aug. 3, according to the weekly Commitments of Traders report from the Commodity Futures Trading Commission. The price of crude advanced 2.5 percent on the Nymex last week, the most since July.