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