Hedge funds rushed back into oil too quickly, boosting bullish bets amid a rebound last week, only to then watch surging U.S. crude supplies push prices right back down to a two-year low. The net-long positions in West Texas Intermediate futures rose 5.7 percent in the seven days ended Oct. 21, U.S. Commodity Futures Trading Commission data show. Short bets shrank 20 percent, the most in three months, while longs dropped 2.8 percent. After rising as analysts speculated prices had reached a floor, WTI sank again after stockpiles climbed nationally and at Cushing, Oklahoma , the delivery point for New York Mercantile Exchange futures. It fell to $80.52 on Oct. 22, the lowest settlement since June 2012, and ended the week down 24 percent from the year’s high. The U.S. benchmark, which slipped into a bear market Oct. 9, may dip to $75 by the end of year, Bank […]