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Commentary: Funds bet on oil price increases

Hedge funds' positions in petroleum had the biggest weekly increase since early February with the purchase of the equivalent of 30 million barrels in the week ending April 27. "Even though crude prices are already trading close to their highest for two years, and near to or above the long-term average in real terms, funds expect a further increase in prices as global manufacturing booms in the months ahead," John Kemp writes.

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