Hedge funds: fully invested in oil or not? Kemp | Reuters

Hedge funds: fully invested in oil or not? Kemp | Reuters:
"Hedge funds amassed a record bullish position in crude oil futures and options by the end of last year, which helped drive crude prices sharply higher in the final six weeks of 2016.

Fund managers had accumulated a net long position in the three main futures and options contracts linked to Brent and West Texas Intermediate (WTI) equivalent to 796 million barrels by Dec. 27 (tmsnrt.rs/2jkKeOm).

The net position was almost double the 422 million barrels fund managers held on Nov. 15, according to an analysis of position data published by regulators and exchanges."

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