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A Reuters column says hedge funds were defensive on oil, with positions reported at the close on May 21 before prices slumped. Supply disruptions from US sanctions on Venezuela and Iran and a halt in Russian exports due to pipeline contamination have helped support prices.
Sanctions and supply outages underpin crude prices, but defensive fund positioning signals that bullish support may be fading.
reuters.comJohn KempMay 28, 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.
