Wednesday, January 8, 2025
Column-Oil prices retrench on massive hedge fund sales: Kemp- oil and gas 360

Column-Oil prices retrench on massive hedge fund sales: Kemp

Reuters LONDON – Portfolio managers sold petroleum last week at one of the fastest rates for a decade, after an upsurge in coronavirus cases and an OPEC+ agreement to boost output caused them to reassess the likelihood of further price increases. Hedge funds and other money managers sold the equivalent of 172 million barrels in the six most important futures

Oil falls as coronavirus, slower China imports hit demand- oil and gas 360

Oil falls as coronavirus, slower China imports hit demand

Tribune Oil prices fell on Monday due to concerns over fuel demand caused by the spread of Covid-19 variants and as changes to import rules in China offset expectations of tight supplies through the rest of the year. Brent crude futures for September fell $0.35, or 0.4%, to $73.75 a barrel by 1100 GMT while US Texas Intermediate crude was