Funds piled into WTI futures in wild week for crude

Hedge funds and commodity futures traders built up long positions on WTI futures in the week to April 21, the day after prices for the front-month contract dropped to -$38.10 a barrel.

Data from the Commodity Futures Trading Commission (CFTC) shows participants labelled “money managers”, a category that covers commodity trading advisers (CTAs), commodity pool operators (CPOs) and hedge funds, were long 324,667 contracts on April 21, the most since January 7 and almost 10% up on the week prior.

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