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Bets on oil rout seen peaking as shale boom starts to slide

Crude caps its best week this year as shale drillers reduce number of oil rigs

Published Mon, Jul 3, 2017 · 09:50 PM
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New York

OIL short-sellers have been on a roll, but their bets on declining prices may have begun to hit a wall.

Hedge fund wagers on lower West Texas Intermediate (WTI) crude reached the highest level since August in the week ended June 27, after more than doubling in two months, according to Commodities Futures Trading Commission (CFTC) data.

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