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Monday, 6 February 2017

Hedge funds make record bet on rising oil prices

Hedge funds make record bet on rising oil prices:

"Hedge funds have amassed the biggest ever bet on rising oil prices as investors back Opec’s bid to tighten the crude market and seek protection against fears of inflation.

Data from regulators and exchanges showed speculators have built long positions equivalent to almost 1bn barrels of crude across the major contracts, while short positions amount to just 111m barrels.

This one-sided bet has left speculative investors holding a record net long position — the difference between bets on rising and falling prices — in Brent crude and West Texas Intermediate futures and options contracts equivalent to 885m barrels by January 31."

'via Blog this'