Friday, July 22, 2011

SPECS Continue To Increase Long Positions In Oil

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The speculator group upped its net long futures and options position in New York by 13,453 to 182,285 during the period, an increase of almost 8 percent, when NYMEX front-month crude prices CLc1 rose from $97.43 a barrel to $97.50. >>>LINK

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Insight on the DOE and IEA coordinated oil release to help keep oil prices down and an outlook on oil prices, with John Hofmeister, Citizens for Affordable Energy.

1 comment:

Market Strategist said...

1 month ago, Saudi said they will increase oil supply and market is bearish on oil. At that time I said cannot trust them. Haha!