Oil News

Crude Oil rose as stocks gained and demand looks to be recovering

Crude Oil rose as stocks gained and demand looks to be recovering

Speculative long positions, or bets prices will rise, outnumbered short positions by 16,157 contracts

Crude Oil rose on speculation that demand will increase as stocks gained and Chinese refiners boosted processing. Oil was also supported as the U.S. currency weakened, boosting the investment appeal of dollar-denominated commodities. Speculative long positions, or bets prices will rise, outnumbered short positions by 16,157 contracts on the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report. Crude Oil is trading at $65.50 as of 9:15am, London Time. Crude Oil