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Hedge Funds Buy Oil as Supply Drops Before Memorial Day: Energy

Posted on 26 May 2014

U.S. crude inventories declining from a record before the Memorial Day weekend spurred speculators to increase bullish bets on oil for a second week. Hedge funds raised their net-long position in benchmark West Texas Intermediate futures by 4.1 percent in the week ended May 20, U.S. Commodity Futures Trading Commission data show. Prices climbed to a one-month high.
Crude supplies fell the most in four months in the week ended May 16, the U.S. Energy Information Administration said………………………………………..Full Article: Source


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