Hedge funds have turned increasingly bullish on crude oil, with positioning in Brent reaching its highest level since April as geopolitical tensions with Iran and severe winter weather in the US tightened near-term supply expectations, according to a report by Bloomberg citing data from IOCE Futures Europe.
The figures show that money managers increased net long-only positions in Brent by 19,409 contracts to 377,371 lots in the week to 27 January. Bullish bets on US benchmark WTI also climbed to...
Continue Reading
Sign up for FREE to read the full article and access 132K+ alternative investment headlines.