Hedge Funds Increase Bullish Bets On Oil ...Middle East

OILPRICE - Economy
Hedge Funds Increase Bullish Bets On Oil
source : OILPRICE ( Middle East ) () 6
Money managers have accelerated buying in the most important petroleum futures and options contracts, betting that oil prices will increase later this year as economies reopen and travel and fuel demand rise. In the week to May 4, hedge funds bought the equivalent of 40 million barrels in the most important contracts, led by increased bullish bets on WTI Crude and Brent Crude, according to data from exchanges compiled by Reuters columnist John Kemp. This was the fourth week in a row in which portfolio managers have added long positions in oil futures.…

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