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HEDGE FUNDS TURN MORE BEARISH ON OIL Hedge funds increased short bets on crude oil to the highest level in nearly five months, reflecting e…

HEDGE FUNDS TURN MORE BEARISH ON OIL Hedge funds increased short bets on crude oil to the highest level in nearly five months, reflecting expectations of higher global supply. Traders are betting that easing U.S.-Iran tensions, increased Iranian exports and smoother traffic through the Strait of Hormuz could pressure prices. Bearish positioning also rose in diesel markets as concerns over supply growth outweigh demand expectations.
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