Where Are Crude Oil ETFs Headed?

With a renewed sense of optimism over resilient demand and the possibility of global supply cuts, energy investors are busily covering their short positions in oil. In fact, according to the U.S. Commodity Futures Trading Commission, hedge funds covered short positions at the fastest pace in 10 months. In all, traders reduced short positions in West Texas Intermediate crude by 15% during the week ended March 1.