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Hedge funds racing oil refiners to $100 a barrel: Energy markets

Posted on 05 February 2013

Hedge funds and refiners vied to buy oil futures last month, pushing crude to the highest level since September, as the U.S. added jobs and expanded manufacturing while the government said fuel demand will rebound this year.
Money managers increased net-long positions, or wagers on rising U.S. prices, to a nine-month high of 218,604 in the week ended Jan. 29, according to the Commodity Futures Trading Commission’s Feb. 1 Commitments of Traders report. It was their seventh week of increasing bullish positions, the longest run of gains in records dating back to June 2006……………………………………..Full Article: Source


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