| Oil investors are turning the car around. For a second week, money managers slashed bets on falling prices by a record and boosted wagers on a rally. Futures have climbed 23 percent in less than three weeks as some OPEC members raised the possibility of an output freeze amid signs the global glut is easing.
"This is a lot of running from one side of the boat to the other," said Tim Evans, an energy analyst at Citi Futures Perspective in New York. "Speculators were selling with both hands in July and buying with both hands this month."..............................................Full Article: Source
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