Brent Crude Long Positions at New Record

Hedge funds and other money managers raised their bets on rising Brent crude oil prices last week to a record level, in the biggest weekly increase since December, exchange data showed on Monday.

Speculators increased net long positions in Brent futures and options by 29,649 contracts to 263,578 in the week to April 14, InterContinental Exchange (ICE) data showed, the highest level since records began in 2011. The increase was the biggest since Dec. 2.

Speculators in U.S. crude futures and options raised net long positions to 235,057 contracts in the week to April 14, data from the U.S. Commodity Futures Trading Commission showed on Friday.

Reporting by Himanshu Ojha