Skip to content
Subscriber Only

Oil Skeptics Let a Little Sunshine In

  • Managed-money WTI net-longs rise by most in seven weeks
  • Short positions decline to lowest level in four weeks
Bloomberg business news

Quilvest's Parker Sees WTI Stabilizing Near $50 a Barrel

Updated on

Oil skeptics are letting a little sunshine in.

After the worst June for oil in six years, hedge-fund bets on declining West Texas Intermediate retreated. That made room for futures to rebound more than 5 percent last week on optimism that the summer will finally boost demand for crude and gasoline.