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The article discusses the efforts of investors to find ways to profit from the fall in petroleum prices by over 50% in 2014. Topics covered include the pros and cons of purchasing a futures contract, the amount of money put in by investors in oil-related exchange-traded funds (ETFs) since the end of November until January 2015, and the advantages of investing in the U.S. Oil Fund (US) ETF.

It was the largest percentage increase since July and pulled the net-long position down 12 percent, CFTC data show. To contact the reporters on this story:Brian Wingfield in Washington at bwingfield3@bloomberg.net;Moming Zhou in New York at mzhou29@bloomberg.netTo contact the editors responsible for this story:David Marino at dmarino4@bloomberg.net;Margot Habiby at mhabiby@bloomberg.netRamsey Al-Rikabi, Dan Stets Attribution Dan Stets: editor David Marino: editor responsible Mark Shenk: assist Moming Zhou: by reporter Brian Wingfield: by reporter Margot Habiby: editor responsible Ramsey Al-Rikabi: editor. [Extracted from the article]

Short positions shrink by most in CFTC data going back to 2006 Speculators raised their wagers on rising prices for WTI crude at the same time as bets that futures will fall dropped. [Extracted from the article]

"The message from Iran has been loud and clear from the beginning that they would not reduce their output", said Harry Tchilinguirian, BNP Paribas SA's London-based head of commodity markets strategy. Attribution Carlos Caminada: editor Debarati Roy: editor Grant Smith: by reporter David Marino: editor responsible Moming Zhou: by reporter. [Extracted from the article]

Oil rose to the highest level in three months after a government report showed stronger demand for gasoline reduced fuel inventories. Attribution James Herron: editor responsible Carlos Caminada: editor Debarati Roy: editor Grant Smith: by reporter Ben Sharples: assist Moming Zhou: by reporter. [Extracted from the article]

Brent crude rose above $40 for the first time since December as major producers prepared to meet to discuss a production freeze and U.S. output finally showed signs of declining. Speculators reduced their short positions in WTI crude by 15 percent, or 25,639 futures and options contracts combined, to 150,718 in the week ended March 1, the biggest decline since April 21, according to CFTC data. [Extracted from the article]

Speculators' short positions in WTI fell by 25,639 contracts of futures and options combined to 150,718, the biggest decline since April 21, CFTC data show. Attribution Carlos Caminada: editor Debarati Roy: editor David Marino: editor responsible Moming Zhou: by reporter. [Extracted from the article]

OPEC members and Russia may meet to discuss capping output later this month, Nigeria's petroleum minister said. Attribution James Herron: editor responsible Carlos Caminada: editor Grant Smith: by reporter Ben Sharples: assist Susan Warren: editor Moming Zhou: by reporter. [Extracted from the article]

Refineries used 16 million barrels a day of oil last week: EIA Stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, increased by 1.19 million barrels last week to 66.3 million barrels, the highest weekly level since data starting in 2004. [Extracted from the article]

Hedge funds cut bets on rising oil prices by most since July Speculative bets that prices will rise outnumbered short positions by 284,873 lots, the London-based exchange said in its weekly Commitments of Traders report. [Extracted from the article]

Net-long position jumped 35% through Jan. 26, CFTC data show West Texas Intermediate crude futures capped a second weekly gain and have surged 27 percent from a 12-year low, spurred by speculation that Russia and OPEC may discuss oil production. Speculators' net-long position in WTI increased 35 percent in the week ended Jan. 26 to 110,432 contracts of futures and options, the biggest percentage gain since October 2010, data from the U.S. Commodity Futures Trading Commission show. [Extracted from the article]

Speculators lowered short positions in WTI by 8.4%: CFTC Speculators' short position in WTI, or wagers on falling prices, dropped by 16,782 contracts to 184,193 futures and options, CFTC data show. [Extracted from the article]

Pierre Andurand says oil prices will rebound this year Attribution James Herron: editor responsible Carlos Caminada: editor Grant Smith: by reporter Ben Sharples: assist Susan Warren: editor Moming Zhou: by reporter. [Extracted from the article]

State rig count falls to 49 as crude slumps below $30 a barrel To contact the reporter on this story:Moming Zhou in New York at mzhou29@bloomberg.netTo contact the editors responsible for this story:Margot Habiby at mhabiby@bloomberg.netJasmina Kelemen. [Extracted from the article]

Motor fuel inventories rise 19 million barrels in two weeks Inventories of the fuel rose by 19 million barrels in the two weeks ended Jan. 8, the Energy Information Administration reported, the biggest increase for any two weeks since data started in 1990. Attribution Carolina Wilson: by reporter Stephen Cunningham: editor Richard Stubbe: editor Moming Zhou: by reporter Margot Habiby: editor responsible. [Extracted from the article]

Saudi Arabia cuts ties with Iran after embassy attacked Oil fell, erasing an earlier gain, as a global glut outweighed an increase in tension between Saudi Arabia and Iran. Saudi Arabia and Iran are on opposite sides of Middle East conflicts from Syria to Yemen. [Extracted from the article]

U.S. oil supplies seen rising in Bloomberg survey of analysts Speculators increased net-long positions in Brent in the same period for the first time in three weeks, according to ICE Futures Europe. [Extracted from the article]

Commodities are priced in the dollar and prices tend to fall when the dollar gains because it takes fewer dollars to buy the same amount. Attribution James Herron: editor responsible Stephen Cunningham: editor Rakteem Katakey: by reporter Ben Sharples: assist Susan Warren: editor Moming Zhou: by reporter Angelina Rascouet: assist. [Extracted from the article]

Saudi Arabia raises oil prices for Asia; cuts prices for U.S. Saudi Arabia nudged pricing higher for December sales of all its crude grades to Asia, where refiners that buy its oil are earning bigger profits. Despite the ample U.S. inventories, supply constraints will push up oil prices, according to Andy Hall, who runs the $2.6 billion Astenbeck Capital Management hedge fund. [Extracted from the article]

U.S. Oil Fund shares outstanding rise to two-month high The rise in shares outstanding comes as West Texas Intermediate crude has dropped nearly 5 percent this month to the lowest level since August amid rising U.S. inventories and lower refinery demand. [Extracted from the article]

WTI front-month contract settles at lowest level in 2 months Attribution James Herron: editor responsible Grant Smith: by reporter Richard Stubbe: editor Ben Sharples: assist Susan Warren: editor Moming Zhou: by reporter. [Extracted from the article]

Oil-service companies are starting a third round of job cuts as hopes fade for an oil price rebound this year. China's central bank cut its benchmark lending rate and reserve requirements for banks, stepping up efforts to cushion a deepening economic slowdown. [Extracted from the article]

U.S. gasoline refining profit margin advances for third day Attribution Heesu Lee: assist James Herron: editor responsible Richard Stubbe: editor Rakteem Katakey: by reporter David Marino: editor Ben Sharples: assist Moming Zhou: by reporter Ramsey Al-Rikabi: editor responsible. [Extracted from the article]

Inventories expanded in the world's biggest oil consumer by 8.03 million barrels last week, the Energy Information Administration said. Oil failed to sustain a gain above $50 a barrel earlier this month amid signs the market surplus will persist as the Organization of Petroleum Exporting Countries continues to pump above its target. Venezuela Oil Minister Eulogio del Pino said he proposed that heads of state from OPEC and non-OPEC nations meet in November to discuss what he termed an "equilibrium" oil price necessary to ensure sufficient future supply. [Extracted from the article]

Oil-dollar relationship disappears, breaking decade-long link The link between crude oil and the dollar has broken for the first time in more than a year, limiting the impact of any Federal Reserve rate change as the industry struggles with a supply glut. [Extracted from the article]

A net total of 19.3 million shares of the biggest exchange-traded fund that tracks oil, were sold back, a weekly record since the ETF's inception in 2006, according to data compiled by Bloomberg. The CBOE Crude Oil Volatility Index, which measures the volatility of the ETF, increased to 57.51 on Sept. 1, the highest since March 17. [Extracted from the article]

Brent oil capped the longest run of weekly declines since January as ample inventories and an accord to ease sanctions on Iran suggested global markets will remain oversupplied. Oil's recovery from a six-year low has faltered amid speculation the surplus will be prolonged as the Organization of Petroleum Exporting Countries kept pumping and Iran seeks to regain market share. [Extracted from the article]

Oil declined to a three-month low in New York as the dollar strengthened against the euro and U.S. crude stockpiles stayed above the seasonal average. Iran, the fourth-biggest member of the Organization of Petroleum Exporting Countries, won't achieve a crude-export boost of more than 500,000 barrels a day, or about 50 percent, until next year, according to banks including Goldman, Citigroup Inc. and Commerzbank AG. [Extracted from the article]

Oil fell to a three-month low after an Energy Information Administration report showed inventories at the biggest U.S. hub increased the most since April. Supplies at Cushing, Oklahoma, the delivery point for U.S. benchmark oil futures, rose for a third week, the EIA said. [Extracted from the article]

"A substantial return of Iranian oil to the market still looks to be a long and winding road", Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas SA, said in a report. The sanctions, implemented in 2012, reduced Iran's crude exports by almost half, cutting revenue from petroleum sales to a nine-year low in 2014. [Extracted from the article]

The net-long position in West Texas Intermediate crude fell 20 percent in the week ended July 7, U.S. Commodity Futures Trading Commission data show. The net-long position in WTI dropped 42,426 to 173,726 futures and options combined in the week ended July 7, the CFTC said. [Extracted from the article]

Prices may fall further as the world remains "massively oversupplied", before markets tighten in 2016 when output growth outside OPEC grinds to a halt, according to the International Energy Agency. Brent for August settlement declined 88 cents to $57.85 a barrel on the London-based ICE Futures Europe exchange. "An improvement towards a more balanced market" is likely in 2016 as consumption grows faster than supply, OPEC's Vienna-based research department said Monday in its monthly market report. [Extracted from the article]

Oil capped its steepest weekly loss since March as the International Energy Agency forecast prices will need to fall further to curb excess supplies. Iran's plan to sell more oil is still a long way off, Goldman Sachs Group Inc., Bank of America Corp. and Societe Generale SA said last week. [Extracted from the article]

Iran, the fourth-largest producer in the Organization of Petroleum Exporting Countries, plans to boost crude exports and recapture market share when sanctions are lifted. Diplomats in Vienna extended a deadline for a nuclear deal with Iran until July 10 while European leaders set a cutoff two days later for Greece to make new economic reform proposals. [Extracted from the article]

The CBOE Crude Oil Volatility Index, which measures oil price fluctuations using options of the U.S. Oil Fund, jumped 2.8 percent to 41.13, the highest level since April on a closing basis. "Greece, Iran, an unexpected U.S. crude stock build, and China", said Mike Wittner, head of oil market research at Societe Generale SA in New York. [Extracted from the article]

The sleepiest oil market since 2013 will probably limp through the second half of the year as well. "The market has found its equilibrium point and I don't see any reason for us to break out of the range", Michael Hiley, head of over-the-counter energy trading at New York-based LPS Partners Inc.,a futures brokerage, said by phone Wednesday. [Extracted from the article]

The oil market pretty quickly came to understand that any increase in production or exports from Iran is going to be very gradual.' The U.S. and other world powers formally extended the deadline for the Iran nuclear deal to July 7. [Extracted from the article]

The CBOE Crude Oil Volatility Index, which measures oil price fluctuations using options of the U.S. Oil Fund, closed at 29.26 on Thursday. Iran has estimated it could double oil exports from about 1 million barrels a day within six months if international sanctions are lifted. [Extracted from the article]

Oil fell for the first time in three days as strong refinery operations boosted inventories of gasoline and distillate. The gasoline crack spread, a rough measure of the profit from processing a barrel of oil into gasoline, fell for a sixth day. [Extracted from the article]

Investors are watching a June 30 deadline for Iran and six other nations to reach a nuclear deal that could lift oil sanctions. European policy makers expressed confidence that a deal with Greece was within reach after Prime Minister Alexis Tsipras's government submitted a last-minute set of proposals they said could end a five-month standoff over aid. The U.S. and five other world powers are offering Iran relief from sanctions, including oil exports, if the Islamic Republic curtails its nuclear program and allows inspections to verify compliance. [Extracted from the article]

Hedge funds reduced both bullish and bearish bets on oil for a fourth week as rising OPEC output was met with forecasts for a contraction in U.S. supply. Money managers trimmed their short wagers in West Texas Intermediate oil by 4.3 percent and long bets by 0.2 percent, leading to a 0.8 percent gain in the net-long position, U.S. Commodity Futures Trading Commission data for the seven days ended June 16 show. Hedge funds and other money managers cut net-long positions on Brent crude by 6,517 contracts to 194,663 lots in the same week, according to data from ICE Futures Europe. [Extracted from the article]

Saudi Arabia, Iraq and the United Arab Emirates each produced at a record in May, the International Energy Agency said Thursday. Saudi Arabia, Iraq and the U.A.E. account for at least 18 percent of global oil output. [Extracted from the article]

The gasoline crack spread, a rough measure of the profit from processing a barrel of oil into gasoline, rose to $28.785 a barrel, the highest since March. Crude production from shale formations such as North Dakota's Bakken and Texas's Eagle Ford will shrink 1.3 percent to 5.58 million barrels a day this month, based on EIA estimates. [Extracted from the article]

Oil retreated on speculation a global surplus will persist as Iran pledges to boost exports amid unyielding OPEC production. OPEC, which pumps about 40 percent of the world's oil, agreed to keep its crude-output quota at 30 million barrels a day on June 5. [Extracted from the article]

Oil speculators accelerated their retreat from both bullish and bearish wagers before OPEC ministers held firm in their plan to pump ever more crude. Speculators reduced short wagers in West Texas Intermediate crude by 8.6 percent and long bets by 2 percent, for an overall 0.2 percent contraction in the net-long position, U.S. Commodity Futures Trading Commission data through June 2 show. [Extracted from the article]

Crude slid to a seven-week low amid speculation the Organization of Petroleum Exporting Countries will refrain from cutting its production target on Friday. Iraq signaled it will increase exports this month and Iran urged OPEC to make room for more production if sanctions are lifted. OPEC's decision in November to leave the production target unchanged has helped to reduce the glut in oil markets, United Arab Emirates Energy Minister Suhail Mohammed Al Mazrouei said in Vienna. [Extracted from the article]