Oil Slump Blindsides Bulls That Wagered on Rout Ending: Energy
This article is for subscribers only.
Speculators added to wagers that the slump in oil futures, the worst since the global recession, is ending. Prices kept falling anyway.
Money managers raised their net-long position in U.S. crude to the highest in two months in the week ended Dec. 9, U.S. government data show. Most of the change came from short holdings contracting to the lowest level since August.