Wednesday, 29 July 2015
Last updated 2 hours ago
Jul 21 2014 | 10:53am ET
Hedge funds exited bullish bets on oil en masse earlier this month.
Hedge funds and other money managers cut their net-long positions in Brent crude by nearly 25% in the week ended July 15, the IntercontinentalExchange said. The move comes as oil prices hit a three-month low, and increase the reduction in bullish bets to nearly 40% since last June.
Speculators also exited nearly $6 billion in long oil bets on the New York Mercantile Exchange last week, capping the largest four-week reduction by hedge funds and others in the exchange’s history.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…