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Oil 'long' positions hit record high: CFTC *PIC*

Oil 'long' positions hit record high: CFTC (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Money managers added 47,600 "long" oil contracts, or bets prices would go up, pushing the net longs to a new record of 240,572 contracts, data from Commodity Futures Trading Commission data showed Friday. The managers also added 7,800 short contracts, or bets prices will go lower. Oil ended the week with gains of 14% as unrest in Libya and concerns about possible contagion to other North African and Middle Eastern countries roiled markets.

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Oil 'long' positions hit record high: CFTC *PIC*