Oil Bulls on Longest Run in 13 Years as Trump Demands Price Cut
- Hedge funds boost bets on rising prices for 7th week: CFTC
- ’Bulled-up’ market may be reaching saturation, analyst says
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Oil is on its longest bull run in 13 years, fueling a rally that has U.S. President Donald Trump fretting about higher prices.
Hedge funds have increased bullish sentiment on U.S. crude prices for the last nine weeks, the longest such run since 2006, according to data released Friday. Almost 14 times as many bets have been placed on prices going up as on a decline, as investors see supply threats multiplying around the globe.