COLUMN-Hedge funds bet cautiously on even higher oil prices: Kemp | Reuters:
Hedge funds added more bullish positions in crude and fuels in the most recent week in the expectation that positive trade talks between the United States and China would keep the global economy expanding.
Saudi Arabia’s substantial output cuts and U.S. sanctions on Iran and Venezuela also are restricting crude supplies and helping eliminate a previously expected surplus in the market in 2019.
Hedge funds and other money managers were net buyers of Brent crude futures and options equivalent to 9 million barrels in the week to Feb. 19, data from ICE Futures Europe showed.
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