LONDON, May 12 (Reuters) – Investors have bet more than twice as much money on rising oil prices via Exchanged Traded Commodities (ETCs) this year than in the whole of 2008, pushing holdings to an all-time high, ETF Securities said on Tuesday.
Inflows into London-based ETF Securities’ oil ETCs increased by $954 million between January and April as investors bet on a rebound in oil prices from near 5-year lows hit at the end of December.
Total bets on prices rising overshadowed bets on further falls by $1.5 billion.
U.S. crude prices CLc1 hit a 6-month high above $60 a barrel on Tuesday, having risen from a low of $32.40 a barrel in December. Prices remain well below the all-time high of $147.27 a barrel hit in July 2008 before the economic crisis cut demand around the world.
Full Story: http://www.reuters.com/article/etfNews/idUSLC32973220090512