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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (45355)	6/19/2018 3:07:19 PM
From: Goose94	Read Replies (1) \| Respond to of 202925

Crude Oil: Hedge funds and other money managers spent the past two months trimming their bullish bets on oil, but last week stepped up their net-long positions. The shift could mark a turning point, a recognition that the selloff in oil has gone far enough. Or, it could be that investors are positioning themselves for a less-than-spectacular increase in output from the OPEC+ meeting, the result of which would push oil prices higher. “Clearly, the increase in Brent positions didn’t come at the right time,” Kyle Cooper, a consultant at ION Energy, told Bloomberg. “People saw the big drop in prices and thought, wait a second, we’re oversold now and due for a bounce. If Saudi Arabia and OPEC don’t just open up their spigots, the market still looks kind of tight.”