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Hedge funds raised net long positions in WTI by 32% and in Brent by 8% in the week to September 19, with WTI's increase the largest since December. Net long positions in US gasoline and diesel reached multi-year highs after Hurricane Harvey disrupted refining.
Speculative buying signals expected price strength in crude and diesel, which raises fuel and freight costs for feed businesses. Fund positioning can amplify near-term price moves.
oilprice.comTsvetana ParaskovaSep 26, 2017Not 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.
