(Bloomberg) Hedge funds and other speculators extended their bullish stance in Brent crude from the highest in five years as the oil benchmark climbs toward $40 a barrel. Money managers boosted their long positions in Brent by 16,417 contracts, or about three times as much as they cut short positions, in the week to March 1, according to data from ICE Futures Europe. That increased their net-long position by 22,171 contracts to 342,460, the highest in data the exchange began compiling in early 2011.
Hedge Funds Extend Bullish Stance in Brent Oil From 5-Year Peak
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