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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

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A closely watched technical indicator shows that crude might take a step back. WTI's 14-day relative strength index hovered above 70 last week, signalling that the commodity is overbought.

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

sentifi.com

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