Oil funds remain bullish after crude’s worst week in two years

Oil funds remain bullish after crude’s worst week in two years:

"Oil prices recorded their largest weekly fall in two years amid tumult in financial markets and rising expectations for US production.

Futures declined in each of five sessions ended Friday, and US benchmark West Texas Intermediate dropped below $60 a barrel for the first time since December.

Crude eluded the worst of the volatility in equities markets, but prices nevertheless felt pressure as trend-following hedge funds abandoned oil positions to offset losses elsewhere."



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