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Huge news. Hedge funds bet big on oil price rally


News from yesterday.
From article with the above title :
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The split was clear this week at two major conferences on opposite sides of the Atlantic. Hedge fund managers, bankers and trading houses at the FT Commodities Global Summit in Lausanne, Switzerland, were largely of the view that oil prices have bottomed. Brent hit a 2015 high above $65 a barrel on Thursday, having slumped to a five-year low near $45 a barrel in January.
“We see the supply side falling away very quickly here,” Paul Horsnell, head of commodities research at Standard Chartered, told the FT Summit. Mr Horsnell forecasts Brent could rise above $80 a barrel in the third quarter of this year.