Wall Street Is The Most Bullish On Commodities In A Decade

Bloomberg Quint | Jan 9, 2021 at 6:26 AM
  • Commodity investors are back in full force, with record wagers that crops, metals and oil are set for a rally.
  • Investors are so bullish that they were holding a net-long position, or the difference between bets on rising prices and wagers they will fall, of 2.3 million futures and options contracts in the week ended Jan. 5.
  • Oil, which is rebounding from an unprecedented crash triggered by the pandemic, has rallied to 10-month highs after Saudi Arabia’s surprising decision to unilaterally cut production by 1 million barrels a day for February and March.