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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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honda0105 Champion Author Tallahassee Posts:10,163 Points:592,775 Joined:Nov 2008	Message Posted: Mar 15, 2010 8:28:29 PM Ignore honda0105 Report Abuse reduce, reuse, recycle, conserve. Only way to get the prices to stay lower.
remay Champion Author Houston Posts:2,042 Points:1,118,315 Joined:May 2006	Message Posted: Mar 15, 2010 7:45:18 AM Ignore remay Report Abuse conserve, conserve, conserve...
LocalSpyGuy Champion Author Tampa Posts:2,774 Points:580,900 Joined:Nov 2008	Message Posted: Mar 15, 2010 7:36:30 AM Ignore LocalSpyGuy Report Abuse Probably a pretty safe bet.
Buck_on_Bass Champion Author Tennessee Posts:2,609 Points:563,715 Joined:Jul 2007	Message Posted: Mar 15, 2010 7:26:02 AM Ignore Buck_on_Bass Report Abuse Here's another gambling house article. My proof: "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."
wild3bill All-Star Author New York Posts:891 Points:1,014,670 Joined:Nov 2005	Message Posted: Mar 15, 2010 7:20:46 AM Ignore wild3bill Report Abuse If the OPEC story holds true the Speculators may panic and sell short
RdHogg Champion Author Houston Posts:14,705 Points:1,896,705 Joined:Jun 2004	Message Posted: Mar 15, 2010 7:19:50 AM Ignore RdHogg Report Abuse Good Morning !!!
ang2010 Veteran Author New York Posts:322 Points:77,175 Joined:Feb 2010	Message Posted: Mar 15, 2010 7:11:28 AM Ignore ang2010 Report Abuse I agree
toyrunner300 Champion Author Calgary Posts:1,925 Points:971,290 Joined:Jan 2007	Message Posted: Mar 15, 2010 7:00:40 AM Ignore toyrunner300 Report Abuse I am so happy I got a Geo Metro since we cannot trust politics and their promises....
DerHahn Champion Author Illinois Posts:7,914 Points:1,110,910 Joined:May 2004	Message Posted: Mar 15, 2010 6:58:33 AM Ignore DerHahn Report Abuse not surprising. after all, they want the price to go up. they make their money from it.
LCSTEELERBOB Champion Author Gary Posts:1,501 Points:351,155 Joined:Oct 2008	Message Posted: Mar 15, 2010 6:56:30 AM Ignore LCSTEELERBOB Report Abuse when will obama stop then as he said he would
Beau2140 Champion Author New York Posts:3,170 Points:643,885 Joined:Oct 2008	Message Posted: Mar 15, 2010 6:55:22 AM Ignore Beau2140 Report Abuse Gasoline will be up for the summer.
DJRIO Champion Author Miami Posts:2,295 Points:419,950 Joined:Jan 2008	Message Posted: Mar 15, 2010 6:55:15 AM Ignore DJRIO Report Abuse time we tell
Cruiser340 Champion Author Grand Rapids Posts:7,292 Points:1,778,410 Joined:May 2004	Message Posted: Mar 15, 2010 6:54:50 AM Ignore Cruiser340 Report Abuse oh no here we go again, speculators running prices up again, they are worst then OPEC.
Daddybud Champion Author North Carolina Posts:1,948 Points:404,090 Joined:May 2009	Message Posted: Mar 15, 2010 6:51:27 AM Ignore Daddybud Report Abuse Gas will be $4.00 by the summer.
Chitowner Champion Author Omaha Posts:1,992 Points:557,440 Joined:Jul 2007	Message Posted: Mar 15, 2010 6:49:42 AM Ignore Chitowner Report Abuse hear is the deal hedge funds are betting on spring with all the kids sports or other outdoor activities requiring transportation. Trouble is with this thinking is I like others are picking other kids up on the way to practice and games.
matman01 Champion Author Detroit Posts:8,943 Points:975,770 Joined:May 2007	Message Posted: Mar 15, 2010 6:49:30 AM Ignore matman01 Report Abuse Anything to get the price at the pump up.
TomT2Lee Champion Author Cincinnati Posts:3,470 Points:1,091,790 Joined:Sep 2005	Message Posted: Mar 15, 2010 6:49:25 AM Ignore TomT2Lee Report Abuse I'd bet, the author of this article has more going into his bank account than what his salary indicates.
mk9999 Champion Author Rochester Posts:2,777 Points:656,620 Joined:Aug 2008	Message Posted: Mar 15, 2010 6:49:02 AM Ignore mk9999 Report Abuse Why won't the stupid govt. outlaw the speculators?
no_monkey2002 Champion Author Tallahassee Posts:3,642 Points:1,093,830 Joined:Mar 2006	Message Posted: Mar 15, 2010 6:48:17 AM Ignore no_monkey2002 Report Abuse i bet that those who bet will be wrong
gasandgoAL Champion Author Alabama Posts:1,745 Points:573,805 Joined:Sep 2008	Message Posted: Mar 15, 2010 6:47:50 AM Ignore gasandgoAL Report Abuse bottom line, consumers will be paying more at the pump. keep conserving
Zuman Champion Author New York Posts:1,319 Points:927,390 Joined:May 2005	Message Posted: Mar 15, 2010 6:47:19 AM Ignore Zuman Report Abuse CAPITALISM........
TeachR06 Champion Author Raleigh Posts:3,535 Points:1,009,660 Joined:Sep 2006	Message Posted: Mar 15, 2010 6:47:11 AM Ignore TeachR06 Report Abuse all speculation that "fuels" increases.
sb0804 All-Star Author Dayton Posts:642 Points:67,720 Joined:Jun 2008	Message Posted: Mar 15, 2010 6:46:17 AM Ignore sb0804 Report Abuse I really like the words "bets" and "wagers" Nice to see the speculators can treat their investments as betting game and we pay the price. How does someone get this job?
rvn4me Champion Author Texas Posts:1,819 Points:519,800 Joined:Jan 2009	Message Posted: Mar 15, 2010 6:45:15 AM Ignore rvn4me Report Abuse This is the kind of speculation that is really pushing up the price of oil. No more supply and demand.
arinkrat17 Champion Author Twin Cities Posts:1,298 Points:325,960 Joined:Aug 2009	Message Posted: Mar 15, 2010 6:40:36 AM Ignore arinkrat17 Report Abuse roller coaster pricing
ifallsguy Champion Author Minnesota Posts:2,536 Points:719,200 Joined:Apr 2007	Message Posted: Mar 15, 2010 6:40:36 AM Ignore ifallsguy Report Abuse same story, different week. THANKS DEMOCRAPS
Rick01 Champion Author Utah Posts:3,835 Points:1,376,065 Joined:Sep 2005	Message Posted: Mar 15, 2010 6:39:04 AM Ignore Rick01 Report Abuse And the next story says it will fall.
tomok Champion Author Portland Posts:17,900 Points:1,329,485 Joined:Aug 2006	Message Posted: Mar 15, 2010 6:38:38 AM Ignore tomok Report Abuse No, No, Say it isn’t so! These individuals are making too much money! OPEC, big oil, refiners and those speculators will continue to ‘stick it’ to the consumer somehow, someway. Then big oil and the refiners create false shortages by producing less fuel and raising fuel prices at the pump.
JCUBE Champion Author Michigan Posts:3,407 Points:921,325 Joined:Aug 2003	Message Posted: Mar 15, 2010 6:37:21 AM Ignore JCUBE Report Abuse Ought to take all those big bail out bank speculators and send them on a permanent sea cruise. It's almost the end of the quarter, got to get that bottom line inflated you know. Those politicians in DC also need their cut for their war chests this November.
FieroGT Champion Author Twin Cities Posts:9,293 Points:1,620,190 Joined:Mar 2005	Message Posted: Mar 15, 2010 6:36:19 AM Ignore FieroGT Report Abuse I hate speculators.
Skipper52 Champion Author Massachusetts Posts:2,356 Points:594,225 Joined:Oct 2008	Message Posted: Mar 15, 2010 6:36:10 AM Ignore Skipper52 Report Abuse It's all about making money. It's not about a good product at a fair price. Those days are long gone. Get use to it folks.
jimraehl Champion Author Utah Posts:1,987 Points:631,015 Joined:Sep 2008	Message Posted: Mar 15, 2010 6:35:00 AM Ignore jimraehl Report Abuse They will have to bail out, as soon as the sheep realize we are still in a depression, and the current market rise is just a correction.
Lukus Champion Author Halifax Posts:3,314 Points:673,865 Joined:Nov 2007	Message Posted: Mar 15, 2010 6:34:48 AM Ignore Lukus Report Abuse If the spectulators had to hold their buys for a minimum of 30 days they would not buy as much.
MertieMan Champion Author Lexington Posts:9,637 Points:1,880,660 Joined:May 2005	Message Posted: Mar 15, 2010 6:31:51 AM Ignore MertieMan Report Abuse These legal thieves not only influence the prices of oil, but now they are gambling on it. It is a big game that affects the entire population of consumers and they think it is funny.
murushi Champion Author Ontario Posts:2,947 Points:584,180 Joined:Jul 2008	Message Posted: Mar 15, 2010 6:30:31 AM Ignore murushi Report Abuse speculators are at it again
REKEY Champion Author South Carolina Posts:3,452 Points:692,575 Joined:May 2008	Message Posted: Mar 15, 2010 6:28:37 AM Ignore REKEY Report Abuse World glut and prices go up.
Cheymike All-Star Author Wyoming Posts:946 Points:160,125 Joined:Sep 2009	Message Posted: Mar 15, 2010 6:27:53 AM Ignore Cheymike Report Abuse Oil's going up... what a surprise.
JimL1 Champion Author Phoenix Posts:2,949 Points:376,320 Joined:Jul 2003	Message Posted: Mar 15, 2010 6:25:43 AM Ignore JimL1 Report Abuse Another article to entice more inexperienced speculator/manipulators into the market. Suckers they will be, as the experienced speculator/manipulators use them to make money, just like experienced poker players clean out the pockets of the inexperienced.
fcdriver Champion Author Tennessee Posts:2,674 Points:564,795 Joined:Sep 2008	Message Posted: Mar 15, 2010 6:23:41 AM Ignore fcdriver Report Abuse they'er playing with snakes
danny999 Champion Author Florida Posts:3,507 Points:623,680 Joined:Oct 2008	Message Posted: Mar 15, 2010 6:20:33 AM Ignore danny999 Report Abuse andBHO is busy trying to shove a trillion dollar health care plan down our throats.
danno27 All-Star Author Miami Posts:704 Points:400,955 Joined:Jun 2006	Message Posted: Mar 15, 2010 6:20:09 AM Ignore danno27 Report Abuse @abuck......Not only shorten delivery time, bit force them to physically receive at least 60% of their contract.
TheSnowstorm Champion Author Montreal Posts:4,283 Points:969,930 Joined:June 2005	Message Posted: Mar 15, 2010 6:19:30 AM Ignore TheSnowstorm Report Abuse Make them pay at the minimum 75% of what they are buying and make it mandatory to take delivery within a specified time-frame.
turbosaab Champion Author Cleveland Posts:8,571 Points:1,398,090 Joined:Sep 2006	Message Posted: Mar 15, 2010 6:18:44 AM Ignore turbosaab Report Abuse The traders are making things up for the purpose of increasing profits. We suffer.
billy44bo Champion Author Mobile Posts:3,113 Points:586,595 Joined:Feb 2008	Message Posted: Mar 15, 2010 6:17:28 AM Ignore billy44bo Report Abuse they need to make these people take the oil that they are buying and most of this crap would stop
olcowboy14 Champion Author Spokane Posts:4,495 Points:722,260 Joined:Jul 2007	Message Posted: Mar 15, 2010 6:15:00 AM Ignore olcowboy14 Report Abuse They are playing with our futures.
rocket_ron Champion Author Grand Rapids Posts:1,236 Points:1,007,010 Joined:Jul 2006	Message Posted: Mar 15, 2010 6:14:53 AM Ignore rocket_ron Report Abuse SOS
cathevan Champion Author Manitoba Posts:2,121 Points:517,635 Joined:May 2007	Message Posted: Mar 15, 2010 6:12:31 AM Ignore cathevan Report Abuse same old game playing again...
abuck Champion Author Pittsburgh Posts:3,051 Points:553,555 Joined:Jul 2008	Message Posted: Mar 15, 2010 6:12:09 AM Ignore abuck Report Abuse need to really shorten delivery times on these....how much risk would they be willing to take if they had to take delivery in 2 weeks?
rsm315 All-Star Author Detroit Posts:724 Points:183,785 Joined:Dec 2009	Message Posted: Mar 15, 2010 6:12:09 AM Ignore rsm315 Report Abuse Its all BS
ftsgt Champion Author Illinois Posts:8,223 Points:1,636,310 Joined:Dec 2004	Message Posted: Mar 15, 2010 6:11:55 AM Ignore ftsgt Report Abuse theyre not contradicting this article isnt an increase in price it sayig traders are betting the price will rise