COT: Oil bears exiting at the fastest pace on record

In just two weeks hedge funds have increased bullish bets on WTI crude oil by a record 142 million barrels. But with 87% of the increase being driven by short-covering some concerns may now resurface that the net-long – now just 5000 lots below April's peak – may not be supported by current fundamentals.

from Ole Hansen - Authored content https://www.tradingfloor.com/posts/cot-oil-bears-exiting-at-the-fastest-pace-on-record-8023903?utm_medium=tf4-feed&utm_source=extract