Oil appears unstoppable as hedge funds take bets to new high
OPEC-Russia solidarity, low US stockpiles and weak dollar the key factors, say analysts
Tue, Jan 30, 2018 - 5:50 AM
Money managers increased their net long position on benchmark US gasoline by 13 per cent to the highest on record, while the net bullish position on diesel edged up by 3.7 per cent, also to a record.
THE enthusiasm in oil markets is breaking records.
Hedge funds reported record wagers on continued price increases for both US and global oil benchmarks, along with petrol and diesel. Meanwhile, producers are hedging production at record rates as oil experiences its best...