Oil Jumps, but Another Downward Slide Seems Likely ...Middle East

WTI crude gained more than 2% on Tuesday morning, erasing some of Monday's losses, but increasingly negative sentiment in oil remains a prime risk. Start to 2024 Oil Trading Looks Increasingly Bearish- Hedge funds and other money managers are increasingly bearish on the oil markets’ outlook, adding a combined 61,000 short positions in Brent and WTI crude in the week to January 2.- This marks the largest week-on-week increase in short positions since March and the second largest since mid-2017, brushing aside ongoing Red Sea shipping woes…

Hence then, the article about oil jumps but another downward slide seems likely was published today ( Tuesday 09/01/2024 - 06:12 PM ) and is available on OILPRICE ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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