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Great overview. You, Nuttall, Kuppy, Tony Greer, and J Polomny are my go to guys on this area of the market. Thanks for the fantastic summary.

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"Hedge funds and other “non-commercial” entities that speculate on oil prices in the futures markets are close to being net short oil futures, which did not even come close to happening during the depths of Covid."

Considering the strength of the fundamentals, wouldn't the above scenario increase the risk of short squeeze in the second half of 2023?

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