Jun
25
Baffled by OPEC, Hedge Funds Leave Oil Bets Up in the Air
By-
WTI long and short positions fall slightly ahead of OPEC meet
- Unclear how much more supply will be poured into the market
In the lead up to OPEC’s meeting last week, investors were playing a waiting game.
Hedge fund wagers on the direction of crude prices barely budged, and an obscure decision on Friday didn’t do much to dispel the uncertainty. While prices jumped with the adoption of a smaller-than-expected production increase, it’s still unclear how much more supply will be poured into the market, and which countries will be responsible for it…
