by winston » Wed Mar 14, 2018 9:29 am
Hedge funds start shorting oil again
Last week, hedge funds and other money managers increased their short bets on oil futures by the most this year, perhaps an indication that investors are not convinced that oil prices will hold at current levels.
The surge in U.S. shale production, which has forced forecasters to continuously revise up their expectations, is starting to weigh on sentiment.
“The market’s entire focus is on these just amazing production numbers,” Bill O’Grady, chief market strategist at Confluence Investment Management, told Bloomberg.
For the week ending on March 6, hedge funds and other money managers slashed their net-long position by 4.3%, which was largely the result of the 15% increase in short bets.
Source: Oil Price Intelligence
It's all about "how much you made when you were right" & "how little you lost when you were wrong"