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Hedge funds eye oil's year-end 'high note' after bumpy 2017
Their optimism is largely fuelled by confidence that extension of Opec output curbs will tighten up markets next year
Add BT as a preferred sourcePublished Mon, Dec 18, 2017 · 09:50 PM
New York
OIL'S bumpy ride to higher ground this year is winding down with a good dose of optimism that 2018 will be even better.
Hedge funds boosted their bets on rising Brent crude to a record, with bullish wagers on West Texas Intermediate (WTI) oil near a nine-month high. The optimism is largely fuelled by confidence that the extension of Opec (Organization of the Petroleum Exporting Countries) output curbs will tighten up markets next year.
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