12-15-2014, 12:11 PM
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#154
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Franchise Player
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Quote:
Originally Posted by oilyfan
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Bloomberg with an update on their original article:
http://www.bloomberg.com/news/2014-1...ng-energy.html
Speculators added to wagers that the slump in oil futures, the worst since the global recession, is ending. Prices kept falling anyway.
Money managers raised their net-long position in U.S. crude to the highest in two months in the week ended Dec. 9, U.S. government data show. Most of the change came from short holdings contracting to the lowest level since August.
Investors added $264.5 million into the four funds so far this month, following a $559.85 million inflow in November that was the most since June 2012.
“This shows that there’s a lot of skepticism about the selloff and a feeling that prices should soon rebound,” John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy, said by phone Dec. 12. “We’re seeing bargain hunting by investors of all stripes.”
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