It’s Official: The Oil Surge Was Driven By The Biggest Short-Squeeze Ever
by Tyler Durden
ZeroHedge.com
03/28/2016
It is now official: as crude soared 50% since Feb. 11, Bloomberg writes, the number of bets on increased prices has barely budged. “Instead, the upward pressure on prices appears to have come from traders cashing out of bearish wagers at an unprecedented pace. The liquidation of short positions during the last seven weeks covered by data from the U.S. Commodity Futures Trading Commission was the largest on record.”
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