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Hedge funds and money managers raised net long positions in U.S. crude by 29,103 contracts to 243,209 in the week to March 26, the highest in over five months. Brent speculative longs also rose to the highest since October.
Iranian and Venezuelan output has fallen under U.S. sanctions.
Heavier speculative buying increases bullish momentum in crude, though a crowded long position raises the risk of a sharp reversal if demand worries grow.
thewealthadvisor.comThe Wealth AdvisorMar 29, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
