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Oil bears routed by spring thaw in prices
Published Mon, Apr 27, 2015 · 09:50 PM
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Houston
SPECULATORS pulled bearish oil bets at the fastest pace on record as Saudi Arabia renewed strikes on Yemen and US output slowed.
Hedge funds reduced their short position in West Texas Intermediate crude by 32 per cent in the seven days ended April 21, driving the net-long position to the highest since July, US Commodity Futures Trading Commission (CFTC) data show.
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