This Is What Is Propping Up Oil
![This Is What Is Propping Up Oil This Is What Is Propping Up Oil](https://5ux.com/sites/5ux.com/files/styles/medium_250/public/resize/remote/c4dc21d1487baad7048f34a33819735c-600x298.jpg?itok=LMfdDR3s)
Short positions in oil exchange-traded funds surged to stunningly extreme record levels (up 300% in a month) in Janaury as crude oil plummeted. Since January 20th, however, things have changed rapidly as a massive short-squeeze began...
(axes adjusted to show relative scale of short position)
Now, as UBS notes,