Hedge funds have never been this bullish about oil

ArticleEnergyJanuary 30, 2018 - 3:02:15 AM

Better prospects for crude oil is nowhere more evident than on derivatives markets and the shift in positioning of large-scale derivatives speculators such as hedge funds.

Hedge funds have pushed long positions – bets on higher prices in future – to all-time record levels across five energy markets including US benchmark West Texas Intermediate crude, Brent international oil futures, and US gasoline and diesel fuel.

According to the CFTC's weekly Commitment of Traders data up to January 23 so-called managed money investors on Nymex in New York and ICE Futures in Europe now hold the equivalent of more than 1 billion barrels of oil on a net basis. That compares to lows of just over 200m barrels in 2014 and similar dips in 2015 and the start of 2016...

Source:mining.com

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