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Oil Traders Increase Price-Rise Bets for Fourth Week, CFTC S

Bloomberg.com -- Hedge-fund managers and other large speculators increased their net-long positions, or bets that oil prices will rise, for a fourth week, according to the U.S. Commodity Futures Trading Commission.

The wagers that prices will climb outnumbered those that prices will fall by 109,314 contracts in the week ended March 9, according to the commission’s Commitments of Traders report on March 12.

“The best buying came again from managed money covering shorts and getting long,” said Peter Beutel, president of trading adviser Cameron Hanover Inc. in New Canaan, Connecticut. “The economy looking stronger and equities markets moving higher are the factors pushing prices higher.”

Open interest rose 50,806 contracts to 1.3 million during the period, according to the CFTC report.

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Submitted Mar 15, 2010 By: UncleCurt

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nb52 Champion Author Grand Rapids Posts:2,882 Points:580,990 Joined:Nov 2008	Message Posted: Mar 15, 2010 4:59:57 AM Ignore nb52 Report Abuse Keep it up and the gas usage in the U.S. will slow down, especially in the summer "driving" months.
stpetebp Champion Author Tampa Posts:2,934 Points:844,890 Joined:Nov 2007	Message Posted: Mar 15, 2010 4:55:43 AM Ignore stpetebp Report Abuse Nothing more than speculation
FMREALTOR Champion Author Florida Posts:1,662 Points:761,645 Joined:Jan 2007	Message Posted: Mar 15, 2010 4:51:42 AM Ignore FMREALTOR Report Abuse Speculation - nothing but speculation.
neptune2008 Champion Author Michigan Posts:3,630 Points:715,255 Joined:Aug 2008	Message Posted: Mar 15, 2010 4:50:34 AM Ignore neptune2008 Report Abuse now they are betting on our future
afghaned Champion Author Hamilton Posts:4,378 Points:312,625 Joined:May 2004	Message Posted: Mar 15, 2010 4:46:30 AM Ignore afghaned Report Abuse Greedy blood suckers are defying the supply & demand logic of economics.
Tru2psu2 Champion Author Winston-Salem Posts:6,762 Points:630,105 Joined:Feb 2004	Message Posted: Mar 15, 2010 4:45:34 AM Ignore Tru2psu2 Report Abuse Just what we need...
BBHybrid Champion Author Pittsburgh Posts:2,623 Points:528,455 Joined:Aug 2008	Message Posted: Mar 15, 2010 4:42:04 AM Ignore BBHybrid Report Abuse anything to get our money
PADI Champion Author Ontario Posts:1,423 Points:526,200 Joined:Nov 2008	Message Posted: Mar 15, 2010 4:39:58 AM Ignore PADI Report Abuse Speculators, what happened to supply and demand?
Metro Man Champion Author Flint Posts:1,991 Points:1,048,725 Joined:Sep 2003	Message Posted: Mar 15, 2010 4:23:20 AM Ignore Metro Man Report Abuse Why would we think that they would say anything different?
Metroman Champion Author Philadelphia Posts:8,202 Points:1,646,720 Joined:Aug 2003	Message Posted: Mar 15, 2010 4:21:42 AM Ignore Metroman Report Abuse Let's not change their name now! They are still speculators!
harleydoctor Champion Author Kansas Posts:2,490 Points:965,955 Joined:Sep 2005	Message Posted: Mar 15, 2010 4:12:45 AM Ignore harleydoctor Report Abuse When does the hunting season start on traders, does anyone know???????
fratt Champion Author Grand Rapids Posts:4,949 Points:1,671,205 Joined:Jul 2005	Message Posted: Mar 15, 2010 4:05:19 AM Ignore fratt Report Abuse Up, Up & away!!!
twobroke61 Champion Author Michigan Posts:3,453 Points:622,760 Joined:Sep 2008	Message Posted: Mar 15, 2010 4:02:12 AM Ignore twobroke61 Report Abuse just in time for the summer travelers i am not one of them but the price is still too high for the economy too handle
Jeff4U Champion Author Atlanta Posts:3,293 Points:883,055 Joined:Nov 2004	Message Posted: Mar 15, 2010 3:59:51 AM Ignore Jeff4U Report Abuse Yep, we're in deep doo-doo faster than you can say "Oil Falls in New York". [Edited by: Jeff4U at 3/15/2010 5:01:10 AM EST]
dslxcur Champion Author Seattle Posts:1,234 Points:775,520 Joined:Sep 2007	Message Posted: Mar 15, 2010 3:58:38 AM Ignore dslxcur Report Abuse Dang! ..................................... Indirectly or Directly our Pensions, Retirement Funds, 401k and individual funds.................................. are in the hands of those money managers making monies and staving against trends of a losing nature...................................... Doesn't help when the Euro advances over the dollar deflating either.............................
HA4CNN All-Star Author Toronto Posts:991 Points:596,340 Joined:Dec 2006	Message Posted: Mar 15, 2010 3:57:22 AM Ignore HA4CNN Report Abuse It dos not appear that the little guy has any control over the price of gasoline its all about the economy and the traders.
ArmydudeNC Champion Author North Carolina Posts:3,203 Points:403,085 Joined:Jul 2009	Message Posted: Mar 15, 2010 3:53:13 AM Ignore ArmydudeNC Report Abuse Of course, anything to get our money.
katmandue Champion Author Detroit Posts:3,155 Points:1,173,480 Joined:Jul 2006	Message Posted: Mar 15, 2010 3:37:45 AM Ignore katmandue Report Abuse And will make it happen
Hunter724 Champion Author New Hampshire Posts:3,215 Points:671,195 Joined:Sep 2008	Message Posted: Mar 15, 2010 3:36:55 AM Ignore Hunter724 Report Abuse Stop with these articles, as that all that is on here......
BigDogOH Champion Author Cincinnati Posts:3,547 Points:832,390 Joined:Mar 2008	Message Posted: Mar 15, 2010 3:33:23 AM Ignore BigDogOH Report Abuse Freat, Summer prices here already
ItisAJeepThing Champion Author Tucson Posts:11,565 Points:1,175,155 Joined:Oct 2006	Message Posted: Mar 15, 2010 3:32:52 AM Ignore ItisAJeepThing Report Abuse The wagers that prices will climb outnumbered those that prices will fall by 109,314 contracts in the week ended March 9. Somebody, force those 109,314 sharks buy and hold the contracted oil instead of just pretending that they want it. At least, fill their swimming pools with high sulphur crude.
1fulltank Champion Author Buffalo Posts:3,005 Points:580,875 Joined:Nov 2008	Message Posted: Mar 15, 2010 3:09:35 AM Ignore 1fulltank Report Abuse These sharks try to capitalize on the backs of others.
EXTREMESNOW Champion Author Medford Posts:4,527 Points:952,760 Joined:Jul 2006	Message Posted: Mar 15, 2010 3:09:11 AM Ignore EXTREMESNOW Report Abuse The start of the mountain climbing process.
PhilMils Champion Author Virginia Posts:2,141 Points:453,750 Joined:Dec 2008	Message Posted: Mar 15, 2010 3:01:44 AM Ignore PhilMils Report Abuse Oil prices will continue to rise until we can greatly reduce the demand. Let's work together to find good ways to produce the energy we need without using oil.
rodzilla123 All-Star Author San Diego Posts:940 Points:288,605 Joined:Jul 2008	Message Posted: Mar 15, 2010 2:41:37 AM Ignore rodzilla123 Report Abuse So which way is Crude Oil going, Up or Down, dose anyone really know.
computernut2008 Champion Author Ohio Posts:1,664 Points:401,400 Joined:Oct 2008	Message Posted: Mar 15, 2010 2:39:57 AM Ignore computernut2008 Report Abuse Bend over this week
14of45SSR Champion Author Saskatchewan Posts:2,112 Points:474,280 Joined:Dec 2008	Message Posted: Mar 15, 2010 2:39:21 AM Ignore 14of45SSR Report Abuse Oil always goes up in the spring time! Only the rich can control the markets & they also pay off those that come looking for them!
findcheap Champion Author Los Angeles Posts:4,668 Points:1,034,665 Joined:Apr 2007	Message Posted: Mar 15, 2010 2:36:47 AM Ignore findcheap Report Abuse Oil prices are pretty much controlled by commodity trading
gass12 Champion Author Omaha Posts:3,626 Points:1,342,540 Joined:Oct 2005	Message Posted: Mar 15, 2010 2:25:51 AM Ignore gass12 Report Abuse More speculators-that is all we need.
beachbumCA Champion Author Riverside Posts:4,069 Points:767,500 Joined:May 2008	Message Posted: Mar 15, 2010 2:11:28 AM Ignore beachbumCA Report Abuse $5.oo here we come.
Tatalah Champion Author Riverside Posts:5,749 Points:1,503,385 Joined:May 2003	Message Posted: Mar 15, 2010 2:10:41 AM Ignore Tatalah Report Abuse They are betting how much big oil and OPEC will be screwing us out of.
cheapertvs Champion Author Richmond Posts:5,195 Points:1,767,245 Joined:Jan 2004	Message Posted: Mar 15, 2010 2:05:40 AM Ignore cheapertvs Report Abuse Wait until you see the prices in April!!!
bobdec Champion Author Florida Posts:4,284 Points:839,625 Joined:May 2008	Message Posted: Mar 15, 2010 1:59:55 AM Ignore bobdec Report Abuse Edtx2009 is right on
hwnguy Champion Author Honolulu Posts:2,981 Points:647,780 Joined:Apr 2008	Message Posted: Mar 15, 2010 1:59:42 AM Ignore hwnguy Report Abuse speculation abound
OnTheWater All-Star Author Orange County Posts:719 Points:219,365 Joined:Nov 2009	Message Posted: Mar 15, 2010 1:50:51 AM Ignore OnTheWater Report Abuse Is this one reason why prices continue to rise is because speculator's bet that the price will go up?? I mean if they bet it will go up then they make it go up so that they win the bet!!
Edtx2009 Champion Author Houston Posts:1,301 Points:267,665 Joined:Jun 2009	Message Posted: Mar 15, 2010 1:42:36 AM Ignore Edtx2009 Report Abuse While prices may occasionally go down, the over all trend will be up. for example the price may drop slightly once for ever 4 or 5 times it goes up.
RENEGADEGAS Champion Author Missouri Posts:7,678 Points:619,180 Joined:Jul 2008	Message Posted: Mar 15, 2010 1:39:12 AM Ignore RENEGADEGAS Report Abuse One story says they are going up and the next one says they are dropping due to increased OPEC output.