Thursday, December 26, 2024
Hedge funds dump oil as outlook worsens: John Kemp- oil and gas 360

Hedge funds dump oil as outlook worsens: John Kemp

Reuters LONDON – Hedge funds sold crude oil and refined products at the fastest rate for more than two years in the first week of September, as the summer trading lull ended abruptly and bullishness towards oil evaporated. Hedge funds and other money managers sold the equivalent of 171 million barrels in the six most important petroleum futures and options

Oil steady as demand concerns rise, Libya output looms- oil and gas 360

Oil steady as demand concerns rise, Libya output looms

Reuters LONDON – Oil prices slipped slightly on Monday amid concerns about a stalled global economic recovery and with Libya poised to resume production, but were supported by an impending storm which has disrupted U.S. oil output. Brent crude LCOc1 was down 12 cents, or 0.3%, at $39.71 a barrel while U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 8 cents, or