Investors Are Increasingly Bullish On Oil Despite Demand Woes

Hedge funds and other portfolio managers boosted their bullish bets on crude oil at the end of 2022 despite concerns about demand in the immediate term in the world’s top crude oil importer, China, and persistent fears of slowing economies.   Investors raised their net long position - the difference between bullish and bearish bets - in all major petroleum-related futures and options contracts in the week ending December 27, data from exchanges showed. The rise in long positions was led by the biggest jump in bullish bets in Brent Crude…