Investors switching from short to long oil ETFs

There has been a sharp shift from short to long positions in oil ETCs since November, when oil prices fell to their lowest level in 20 months, according to ETF Securities. Long positions are now at their largest since inception with total oil ETC inflows having risen by $912m since the start of November, the fastest growth since their introduction in 2005. Daily flows are currently averaging $100m. Between May and July last year, investors built large net short positions in energy - mainly through ETFS Short Crude Oil - as the oil price surged towards a peak. Although there has been a...