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BUZZ-Oil services: short squeeze unlikely to last

Fri, 28th Aug 2015 16:02

** Oil services stocks dominate top risers for the week onthe Stoxx 600 after a sharp rise in crude prices, butfundamentals in the oil market still poor

** WTI up 16.3 pct in two days, its biggest risesince January 2009 as traders rushed to cover short positions

** However, options activity shows surge in spot prices maybe fleeting - and with it, performance of oil services stocks upas much as 25 pct for the week

** Most heavily traded contract on Thursday a bearish $40put, suggesting the rally is not a precursor to a longerrecovery

** 7 of the top ten on the Stoxx for the week oil servicesnames. Chart: http://link.reuters.com/baj55w

(RM: alasdair.pal.thomsonreuters.com@reuters.net)

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