Hedge funds boost bullish US crude oil bets 4th week in a row - RTRS

The latest US Commodity Futures Trading Commission (CFTC) data released on Friday showed that the hedge funds and money managers boosted their bullish bets on the US oil (WTI) for the fourth week in a row, as markets remain expectant of an imminent  oil output cut deal to be implemented in order to rebalance oil markets this year.

Money managers raised their combined futures and options position in two major NYMEX and ICE markets by 8,494 contracts to 341,834 in the week to Dec. 27, a fresh high since July 2014, Reuters reports CFTC data.

Meanwhile, speculators raised their bullish bets in gasoline to the highest since February 2015, with a combined futures and options net long position of 50,091 contracts in the week to Dec. 27.