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Hedge funds boost bearish bets on oil to 4-year high

No rebound seen amid growing US supplies and no change to Saudi Arabia's production policy

Published Mon, Jan 26, 2015 · 09:50 PM

New York

HEDGE funds boosted bearish wagers on oil to a four-year high as US supplies grew the most since 2001.

Money managers increased short positions in West Texas Intermediate (WTI) crude to the highest level since September 2010 in the week ended Jan 20, US Commodity Futures Trading Commission data show. Net-long positions slipped for the first time in three weeks.

US crude supplies rose by 10.1 million barrels to 397.9 million i…

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