Bullish Bets on Oil Soared After Iran’s Attack on Israel

Following the Iranian missile attack on Israel, hedge funds and other portfolio managers boosted last week their bullish bets on Brent crude by the highest volume since 2018. The long positions – bets that oil prices will rise – surged by the equivalent of 139 million barrels last week, according to data from Intercontinental Exchange Inc. on the commitment of traders, cited by Bloomberg. This commitment of traders report tracks the weekly period to Friday and is published under the European Union’s Markets in Financial Instruments…