Oil Traders Slash Positions In Crude Futures As COVID Infections Soar ...Middle East

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Oil Traders Slash Positions In Crude Futures As COVID Infections Soar
source : OILPRICE ( Middle East ) () 32
The continuing increase in Covid-19 infections in many parts of the world deepened concern among traders about the future of demand, which led to an outflow from oil futures contracts, Reuters’ John Kemp wrote last week. Funds had cut their positions across the six major oil contracts for two out of the last three weeks, given the pandemic situation and the persistent uncertainty around jet fuel demand recovery. An earlier report from Reuters this month cited a refining executive as saying there were signs of a pick-up in jet fuel demand.…

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