Oil optimists pushed bullish wagers to a six-month high as the rally in prices continued.
Money managers raised optimistic wagers on Brent crude for a fifth straight week while closing out pessimistic bets by the most since January as turmoil in major oil-producing nations heightened supply concerns. Short-selling bets on the global benchmark plunged by 18 percent, according to data released Friday.
Hedge fund positioning on US crude told a similar tale, with contracts calling for a decline in West Texas Intermediate falling off by 17 percent.
