Upside Risks For Oil Are Growing ...Middle East

OILPRICE - Economy
Upside Risks For Oil Are Growing
source : OILPRICE ( Middle East ) () 21
Recession fears have left oil prices lingering at a one-year-low with slim trades ahead of the holidays, but the upside momentum for oil prices next year may have already started. Hedge funds and other money managers have slowed the sell-off in the two most important crude futures contracts following an exodus in November. In the week to December 13, money managers also cut their combined bullish Brent and WTI bets to the lowest level since April 2020, according to estimates by Saxo Bank’s Head of Commodity Strategy Ole Hansen, based on the…

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