Short sellers are closing out short positions against oil-focused exchange traded funds, while money managers have modestly increased their holdings of crude oil futures over the latest reporting week. These trades suggest that speculators, traders, and hedge fund managers may have started to believe that the 20% crash in oil prices since the middle of June could be over, and prices are set to go higher from here.
The largest U.S. oil stock-focused ETF, Energy Select Sector SPDR Fund (NYSEARCA: XLE), has seen traders…Traders Are Betting On The End Of The Oil Price Slump
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