Oil squeezes higher as specs bet heavy against crude ...Middle East

forex live - News
Oil squeezes higher as specs bet heavy against crude
We've seen this pattern a few times recently: Positioning data released late on Friday shows extremely negative positioning in oil and on Monday there is a squeeze higher.Unfortunately, the gains haven't lasted, at least not recently. There are already signs of that with WTI rising as high as $70.70 but now pulling back to $69.79.Still, WTI is up $1.18 on the day and the net spec position in US crude futures and options contracts has reached an all-time low. The sellers are evidently betting on a slowdown in the global economy and soft Chinese growth in particular as a catalyst.Rory Johnson at Commodity Context today highlights past troughs in sentiment since 2019 and finds that over the fol

Hence then, the article about oil squeezes higher as specs bet heavy against crude was published today ( ) and is available on forex live ( 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.

Read More Details
Finally We wish PressBee provided you with enough information of ( Oil squeezes higher as specs bet heavy against crude )

Apple Storegoogle play

Last updated :

Also on site :

Most viewed in News


Latest News