Oil Pessimists Exit Market as Supplies Seen Closer to Balance
- Speculators least bearish on WTI crude since June: CFTC
- WTI topped $50 for first time in more than 7 months on May 26
Oil Outlook: More Downside to Come?
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The oil market doomsayers are beginning to capitulate.
Speculators reduced bets on falling prices to the lowest level in 11 months as oil briefly breached $50 a barrel on signs supplies are coming into balance.