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Commodities Briefing - Categorized | Market Moves, Oil more

Brent crude oil rises back to level before OPEC meeting

Posted on 04 June 2013

Brent crude rose, returning prices to the level prior to OPEC’s May 31 meeting. Hedge funds and other money managers increased bullish bets on Brent last week to the most in more than three months, a report showed.
Brent advanced as much as 1.9 percent to $102.30 a barrel. Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 161,550 lots in the week ended May 28, according to data from ICE Futures Europe………………………………………..Full Article: Source


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