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May 17, 2021

Column: Oil prices capped by hedge fund profit-taking- oil and gas 360

Column: Oil prices capped by hedge fund profit-taking

May 17, 2021

Nasdaq LONDON – Hedge funds cut their petroleum positions last week as oil prices neared the top of recent trading ranges and the cyberattack on the Colonial fuel pipeline looked set to cut crude processing and diesel output. The previous week’s bullishness faded as the market was hit by one of the largest waves of selling since the start of

Oil prices steady on hopes for economic recovery- oil and gas 360

Oil prices steady on hopes for economic recovery

May 17, 2021

Reuters LONDON – Oil prices held firm on Monday, trading in a tight range as European economic reopenings offset gloom from surging coronavirus cases in Asia, fresh restrictions and underwhelming Chinese manufacturing data. Brent crude rose 14 cents, or 0.2%, to $68.85 a barrel at 1341 GMT, and West Texas Intermediate (WTI) U.S. crude was up 22 cents, or 0.3%, at $65.59.

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