Commodities
Oil Bull Crowd Grows to Start 2025 on Trump Trade, Technicals
- Hedge funds boost WTI net-longs to most bullish since August
- Oil’s range creates technical signals, flips algos to bullish
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Money managers are turning increasingly bullish on oil to start 2025 as technical signals prompt algorithmic traders to dump short positions and hedge funds position for sanctions and inflation in a second Trump term.
Funds’ long-only contracts on West Texas Intermediate swelled to 247,113 lots last week, a 41% gain in the past three weeks, according to data from the Commodity Futures Trading Commission. Short bets are down 33% in the same period, pushing the net-long position to the most bullish since August.