As Oil Soars, Few Hedge Funds Are Left to Profit

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It’s a rare bunch of traders who can say they made a killing on oil’s surprising rebound over the past year. The reason: there’s not many of them left.

Years of choppy and often falling markets have obliterated a once-prominent group of hedge funds, collectively running billions of dollars, who bet on commodities. Among firms that have shut commodities funds are Astenbeck Capital Management, Armajaro Asset Management, Clive Capital, Centaurus Capital and Brevan Howard.

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