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A fund bets on high oil prices amid Middle East tensions, despite forecasts of a long-term decline.
A fund has placed a speculative bet on Brent crude oil reaching $100 per barrel, despite current prices near $71 and forecasts of lower prices due to trade wars and reduced demand.
Meanwhile, oil prices saw a modest rise of about 1% at the start of trading on Monday, ending a three-week decline.
This increase is partly due to concerns over a global economic slowdown and trade tensions.
Additionally, OPEC+ crude output surged in February, reaching 40.98 million barrels per day, mainly due to increased production in Kazakhstan.
The group plans to ease 2.2 million barrels per day of voluntary cuts from April.
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Un fondo apuesta por los altos precios del petróleo en medio de las tensiones en Oriente Medio, a pesar de las previsiones de un declive a largo plazo.