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Last Updated: January 17, 2018
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Business Trends

LONDON (Bloomberg) -- Oil slipped from a three-year high amid speculation that a surge in hedge-fund buying had pushed prices up too quickly.

U.S. crude futures lost 0.4% while in London Brent retreated from $70/bbl, a level it crossed last week for the first time since 2014. Money managers increased their bullish bets on U.S. crude to the highest in more than a decade, according to the Commodity Futures Trading Commission on Friday. Futures’ 14-day Relative Strength Index also suggested prices might have overshot.

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