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Oil Speculators Shrug Off Huge Stockpiles to Bet on Price Climb

2016-02-16 04:12:26| Oil & Gas - Topix.net

Oil stockpiles at an 86-year high and warnings of a persistent glut weren't enough to keep money managers from betting that prices are ready for a rebound. Speculators' long positions in West Texas Intermediate crude climbed to the highest since June as oil sank toward a 12- year low, according to U.S. Commodity Futures Trading Commission data.

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