Hedge funds increased bets on rising oil prices just before crude futures tumbled to a 17-month low on signs that global supply is outstripping demand. Prices capped the biggest weekly decline in two months after money managers boosted net-long positions in West Texas Intermediate by in the seven days ended Sept. 30. Long positions climbed 2.7 percent, U.S. Commodity Futures Trading Commission data show. WTI sank below $90 on Oct. 2 after Saudi Arabia, the world’s largest oil exporter, cut its prices to Asia . U.S. is the highest since 1986, while OPEC output expanded to the most in a year. The last month reduced its projections for demand growth this year and in 2015, citing a weakening economic outlook. “Oil isn’t looking like a good bet anymore,” , president of Strategic Energy & Economic Research in Winchester, , said by phone Oct. 3. “Production continues to rise, flooding […]