Google+ Followers

Friday, 4 November 2016

Investors grow less bullish on US oil futures

Investors grow less bullish on US oil futures:

"Hedge funds and other money managers grew less bullish on US oil futures in the past week amid a decline that brought prices back below $45 a barrel.

The net long, or buying, position in West Texas Intermediate crude was the equivalent of 211.4m barrels on the New York Mercantile Exchange as of Tuesday, according to weekly government data, contracting by 33.2m barrels. The net position was the lowest since late September.

The funds pared their position by selling out of 20.7m barrels’ worth of long positions and adding 12.4m short, or bearish, futures positions in the week to Tuesday."



'via Blog this'