Hedge Funds Slash Long Oil Holdings

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.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...