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Oil Bears Cashing Out From Crude Market's Roller-Coaster Ride

  • Bets on falling prices drop by most in more than three months
  • Futures volatility climbs to highest level since March
Updated on

Oil bears are cashing out.

Hedge funds slashed short positions in West Texas Intermediate by 13 percent in the week ended Sept. 1 as the largest three-day rally in 25 years sent crude up by almost $10 a barrel before it dropped again. It was the biggest liquidation of bearish bets since May.