Hedge funds are betting on a rapid rise in WTI oil prices at the fastest pace in four months, and U.S. crude oil has become the "last lifeline" for global supply.

According to Zhitong Finance APP, amidst simultaneous supply disruptions in the three major global energy transportation corridorsStrait of Hormuz, Bab el-Mandeb Strait, and the Black Seahedge funds are making a rapid return to the U.S. crude oil market at the fastest pace since March of this year. The latest data from the U.S. Commodity Futures Trading Commission (CFTC) shows that as of the week ending July 28, fund managers significantly increased their net long positions in WTI crude oil by 21,402 contracts to 108,307 contracts, marking the largest weekly increase in nearly four months. Speculators currently exhibit a bullish sentiment towards WTI crude oil, reaching the highest level since mid-June. Meanwhile, net long positions in U.S. gasoline have risen to a four-month high, and diesel long positions have reached the highest level in nearly five months.