Hedge Funds Are Unloading Oil Futures In A Hurry ...Middle East

Investors dumped petroleum-related derivatives last week at one of the fastest rates of the pandemic era as recession fears intensified. Hedge funds and other money managers sold the equivalent of 110 million barrels in the six most important petroleum-related futures and options contracts in the week to July 5. Fund managers have now sold a total of 201 million barrels in the past four weeks, according to position records published by ICE Futures Europe and the U.S. Commodity Futures Trading Commission. The combined position has fallen to only…

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