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Column-hedge Funds Put Brakes On Oil Buying As Economy Concerns Grow: Kemp - Oil & Gas 360

by oilandgas360.com posted 3weeks ago 2 views
LONDON – Hedge funds remain bullish on the outlook for oil but inflows of new money have dried up over the last month as prices have hit multi-year highs and global inflation concerns have grown. In the six most important petroleum-related futures and options contracts, hedge funds and other money managers held a net long position equivalent to 847 million barrels on Oct. 26, exactly the same as Sept. 28. Over the last four weeks, fund managers have twice made small additions to their net position, and twice small reductions, signifying a loss of momentum and direction for now.

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