Oil Speculators Most Bullish Since ’14 After Wild Two Months
- Bets on falling WTI crude price drop 53% in three weeks: CFTC
- OPEC reached preliminary accord Sept. 28, next meeting Nov. 30
Speculators More Bullish on Oil
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Oil investors must be getting dizzy.
In the two months since OPEC began talking about capping production, speculators’ sentiment has swung wildly, with government and exchange data showing the four biggest weekly position changes ever for the two global benchmark crudes. The latest shift is to optimism, with money managers the most bullish on West Texas Intermediate oil in two years.