Bullish oil bets by hedge funds up the most in four years
One analyst says Iran deal has already been priced in
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New York
HEDGE funds increased bullish oil bets by the most in four years as negotiators worked overtime to reach a deal over Iran's nuclear programme.
Speculators boosted their net-long position in West Texas Intermediate crude by 21 per cent in the seven days ended March 31, US Commodity Futures Trading Commission data show, the biggest percentage increase since March 2011. Short positions dropped by the most in three months.
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