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Bets on oil rally hit record, but will they last?

The higher oil prices go, the more likely it is that Opec will have second thoughts on its supply cuts and that US shale production will rise

Published Mon, Jan 15, 2018 · 09:50 PM
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New York

ANOTHER week of rising oil prices and another record for money manager bets on gains. But can it last?

With wagers on rising West Texas Intermediate (WTI) and Brent crude futures mounting to new highs and the global benchmark hurtling through US$70 in the face of depleting stockpiles, the bulls seem to have control of the market. But, warnings of a retreat are coming into view.

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