Hedge funds remain cautious on oil…Reuters

June 13, 2017 by Jim Colburn Leave a Comment

From John Kemp, Reuters:

“Hedge funds remain cautious on the outlook for oil prices despite confident statements from Saudi Arabia that global oil inventories will decline substantially in the next few months.

Asset managers cut their combined net long position in the three main futures and options contracts linked to Brent and WTI by 39 million barrels in the week ending June 6.”

Here is the CBOE’s oil volatility index:

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