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Crude Traders Raise Bets on Price Rise, CFTC Data Show

(Corrects headline, first and second paragraphs to show managed money net long positions increased in story published Aug. 29.)

Aug. 29 (Bloomberg) -- Hedge-fund managers and other large speculators increased their net-long position in crude-oil futures in the week ended Aug. 26, according to Commodity Futures Trading Commission data.

Each Friday the CFTC publishes aggregate numbers for long and short positions for speculators such as hedge funds and institutional investors, as well as commercial companies that buy or sell futures to protect against price moves. Analysts and investors follow changes in speculators’ positions because such transactions can reflect an expectation of a change in prices.

To contact Bloomberg News for this story: newsdev@bloomberg.net

To contact Bloomberg News staff for this story: Alaric Nightingale in London at anightingal1@bloomberg.net To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net Stephen Voss

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