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Hedge funds are betting big on oil

Hedge funds are setting new records for wagers on sustained oil price increases, while producers are hedging their output at record rates as oil has best January since 2006.

Photo: Nabil al-Jurani/AP/Polfoto/Arkiv

The enthusiasm in the oil markets is breaking records.

Hedge funds reported record wagers on continued price increases for both US and global oil benchmarks, along with gasoline and diesel. Meanwhile, producers are hedging production at record rates as oil experiences its best January since 2006.

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