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Here's why oil stocks are going nowhere for the foreseeable future Add to ...

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Futures markets indicate that bullishness on the price of oil is reaching 12-month highs, a surprising development when most signs point to minimal upside for the commodity’s price.

The first chart below compares the West Texas intermediate crude price with speculative futures positioning (the Commodities Futures Trading Commission releases the data weekly and the “Non-Commercial” category is used as a proxy for hedge fund investments).

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