Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Hedge funds increase bullish U.S. crude bets

Published 07/06/2020, 03:54 PM
Updated 07/06/2020, 03:55 PM
© Reuters.

NEW YORK (Reuters) - Hedge funds and other money managers raised their net long U.S. crude futures and options positions in the latest week, the U.S. Commodity Futures Trading Commission (CFTC) said on Monday.

The speculator group raise its combined futures and options position in New York and London by 251 contracts to 378,951 during the week ended June 30. The data was delayed from Friday due to the Independence Day holiday in the U.S.

U.S. West Texas Intermediate crude futures (CLc1) fell 3% in the period to $39.27 a barrel as market attention turned to rising coronavirus cases in the United States and concerns that Libya and other producers would boost output.

During the same period, natural gas speculators in four major New York Mercantile Exchange and Intercontinental Exchange (NYSE:ICE) markets raised their net long positions by 25,685 contracts to 123,719 in the week.

Latest comments

I just saw a headline that oil will never hit $100.00 ever again. A couple months ago, a headline stated that oil could never go negative. lets never say never, but operators can keep the rigs on the ground to keep production down. Make a change in 2020, keep production down.
Whenever you see endless negative news on OIL or any stock category then thats when you buy! Never believe the FAKENEWS because if the news was good actually valid and good enough to stand on its own you wouldnt need it thrown in your face 24/7 and hedgefunds knew this.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.