Short-Sellers Give Oil a Break Following Coronavirus Concerns
- Bearish WTI wagers little-changed after doubling in two weeks
- Long bets continued to retreat for third straight week
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Short-sellers are giving oil a reprieve after the global coronavirus scare led them to double bearish wagers in just two weeks.
With the market less panicky, hedge funds kept their bets against West Texas Intermediate crude little changed in the week ended Feb. 11, data released Friday showed. But their overall stance is still the most pessimistic since November.