| Investors are losing faith in an oil-price recovery next year as Iran prepares to add more crude to a global glut. Hedge funds reduced bets on rising prices to a three-month low and kept bearish wagers near a record high in the week ended Dec. 22, data from the U.S. Commodity Futures Trading Commission show.
Oil fell to the lowest level in more than six years on Dec. 21 amid speculation suppliers from the Middle East to the U.S. will exacerbate a glut as they fight for market share. Iran, which expects sanctions over its nuclear program to be lifted by the first week of January, has secured customers for its planned supply expansion, an Iranian oil official said this month...............................................Full Article: Source
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