Oil Bulls Bet the Waning U.S. Shale Boom Will Curb Global Glut
- Hedge funds boost bullish wagers to highest in 11 months: CFTC
- U.S. crude output decreases to lowest since October 2014: EIA
The Long- and Short-Term Outlook for Oil
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Hedge funds are rooting for a quick collapse of the U.S. shale boom.
Money managers turned the most bullish since May as West Texas Intermediate crude climbed to a five-month high on optimism that falling U.S. production and rising fuel demand will trim the global glut. Investors shrugged off an inventory gain that left supplies at the highest since 1929.