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crude oil traders reposition for price rise

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    Crude Oil Traders Reposition for Price Rise, CFTC Data Shows

    By Dan Stets

    Nov. 21 (Bloomberg) -- Hedge-fund managers and other large speculators reversed from a net-short position to a net-long position in New York crude-oil futures in the week ended Nov. 18, according to U.S. Commodity Futures Trading Commission data.

    Each Friday the CFTC publishes aggregate numbers for long and short positions for speculators such as hedge funds and institutional investors, as well as commercial companies that buy or sell futures to protect against price moves. Analysts and investors follow changes in speculators' positions because such transactions can reflect an expectation of a change in prices.

    http://www.bloomberg.com/apps/news?pid=20602099&sid=aII0wWeYHfpE&refer=energy

    Last Updated: November 21, 2008 15:36 EST
 
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