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Oil appears unstoppable as hedge funds take bets to new high
OPEC-Russia solidarity, low US stockpiles and weak dollar the key factors, say analysts
Published Mon, Jan 29, 2018 · 09:50 PM
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New York
THE enthusiasm in oil markets is breaking records.
Hedge funds reported record wagers on continued price increases for both US and global oil benchmarks, along with petrol and diesel. Meanwhile, producers are hedging production at record rates as oil experiences its best January since 2006.
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