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Hedge funds increase net long positions in crude oil futures


Date: Monday, February 22, 2010
Author: Hedgetracker.com

An easing of the crisis in Europe gave energy markets a firm tone last week that enabled crude oil futures to gain nearly 8% amid mixed economic news and some concerns about supply. A strike at French oil refineries lifted prices to a five-week high Friday, with the benchmark West Texas Intermediate finishing the week at $79.81. The French strike threatened to limit U.S. Imports of refined products from Europe.