Hedge funds are concerned with oil outlook while inventory swells

Source: Bloomberg
© Scanpix/RS
Hedge funds cut their bets on climbing oil prices since December 2012, while inventories in the US grew to the strongest levels in three decades. WTI added 2.5%, or $1.24, to $50.52 a barrel during the New York Mercantile Exchange, while the US benchmark grade fell 12 cents to $49.49 a barrel in the electronic trade session.
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