Traders think the decline in oil prices is over. A report from Bloomberg News on Sunday said traders had pulled their bets that oil prices would fall further at the “fastest pace on record,” citing data from the Commodity Futures Trading Commission, or CFTC. And according to John Kilduff at Again Capital, who spoke to Bloomberg last week, “The falling rig count and the reduction we’re starting to see in output shows that the bottom has in fact been installed … A lot of people are throwing in the towel.” Last week, oil prices rose for the sixth straight week, and West Texas Intermediate crude oil was trading near $57 a barrel Sunday night, up from its low of $43 hit back in March. Earlier this year, strategists at Citi called for oil prices to drop as low as $20 a barrel given that the glut of global supply, […]