Tuesday 16 April 2019

RPT-COLUMN-Hedge funds' oil positions start to look stretched: Kemp - Reuters

RPT-COLUMN-Hedge funds' oil positions start to look stretched: Kemp - Reuters:

Hedge fund managers continue to accumulate positions in crude and gasoline in the most sustained bull market since 2017 but the market is starting to look stretched and the balance of risks is shifting to the downside.

Hedge funds and other portfolio managers have boosted their net long position in the six most important petroleum futures and options contracts by 503 million barrels over the last 13 weeks.

Fund managers have added 294 million barrels of bullish long positions since Jan. 15 while trimming 215 million barrels of bearish short positions since Jan. 8, according to exchange and regulatory data published on Friday.

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