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Crude oil gets some respite as skeptics turn optimists 

July 18, 2017

ET Markets, Jessica Summers

"After the worst June for oil in six years, hedge-fund bets on declining West Texas Intermediate retreated. That made room for futures to rebound more than 5 per cent last week on optimism that the summer will finally boost demand for crude and gasoline. 

“The market is starting to recognize that demand is a little better than what has been the consensus view so far this year,” Matt Sallee, who helps manage $16 billion in oil."

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