Hedge-fund managers and other large speculators increased their net-long position in New York crude-oil futures in the week ended June 3, according to U.S. Commodity Futures Trading Commission data.
Speculative long positions, or bets prices will rise, outnumbered short positions by 28,296 contracts on the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report. Net-long positions rose by 2,429 contracts, or 9 percent, from a week earlier.
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