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Oil short-sellers return as doubts loom on OPEC's horizon

Bets on falling Brent rose by the most since June

Meenal Vamburkar | Bloomberg 

Short-selling is rearing its head in the oil market again. After bullish bets on Brent crude hit a record and futures surged to two-year highs, hedge funds are pulling back with a sense that the rally has reached its limit for now. Wagers on lower prices rose by the most since June as West Asian tensions took a backseat, while uncertainty looms over Saudi Arabia’s push to extend OPEC’s output curbs this month. “We’re at levels where the market appears to have crested,” said Gene McGillian, a market research manager at Tradition Energy in ...

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First Published: Sun, November 19 2017. 01:10 IST