# Investors turned more bearish on oil last week than ever

> Speculators increased short bets on US ULSD futures by more than 12,000 contracts in the latest week. ULSD futures slumped to $2.04 a gallon, their lowest since December 2021, on weak economic activity and growing use of alternative fuels.

- Date: 2024-09-16 · published 2024-09-16T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/28501-investors-turned-more-bearish-on-oil-last-week-than-ever
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Heavier fund selling and weak demand keep diesel prices under pressure, lowering fuel and freight costs for feed buyers.

## Read by commodity

- DIESEL: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/investors-turned-more-bearish-oil-last-week-than-ever-2024-09-16/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.