Oil Rally Finally Pulls Hedge Fund Optimists Off the Sidelines

For the first time this year, a jump in bets that Brent crude prices will rise far surpassed the move by short-sellers, helping set the tone for money managers’ positioning on the global benchmark.“Many of the worries we’ve had about demand have dissipated," said Bart Melek, head commodities strategist at TD Securities in Toronto, said in an interview.