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Monday, 13 March 2017

Oil Bulls Exit Before Market Dive on Swollen U.S. Stockpiles - Bloomberg

Oil Bulls Exit Before Market Dive on Swollen U.S. Stockpiles - Bloomberg:

"Oil’s fall from grace last week started with hedge funds, and it may only get worse from here. Investors cut bullish wagers on West Texas Intermediate crude to a one month-low, according to U.S. Commodity Futures Trading Commission data, a move that came just prior to a market dive that sent prices below $50 a barrel for the first time since December. "This report is just the beginning," said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. "The volume and breadth of the decline this week show that there was massive liquidation. Next week’s report will be the blockbuster.""



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