Over the past week, money managers have turned even more bullish on oil prices, betting that Brent Crude prices will further rise amid expectations that OPEC and friends can’t or won’t fully offset the supply gap in Brent-linked oil cargoes with the U.S. sanctions on Iran. According to data from exchanges compiled by Reuters market analyst John Kemp, hedge funds and other money managers boosted again their combined net long position in the six major petroleum contracts in the week to September 25. Most of the bets on rising prices are…
