Reuters LONDON – Consumption of diesel and other middle distillate fuels is likely to be depressed for many months, as stay-at-home orders are lifted but the lingering effects of the epidemic and lockdowns reduce business activity. Lockdowns are easing in most of the major economies, permitting factories to resume operations; now the problem is the lack of household and business
Reuters LONDON – Hedge funds continue to bet on a recovery in oil prices, but their bullishness is concentrated on crude, especially U.S. crude, while refined fuel markets are expected to take longer to tighten. Hedge funds and other money managers purchased the equivalent of 26 million barrels of futures and options in the six most important contracts in the
Reuters LONDON – Hedge funds stopped buying petroleum last week, as benchmark crude prices touched $30 per barrel, and evidence emerged of a persistent oversupply of middle distillates such as diesel and especially jet fuel. Hedge funds and other money managers sold the equivalent of 19 million barrels in the six most important petroleum futures and options contracts in the
Reuters LONDON – Hedge funds and other money managers bought petroleum derivatives last week in the cautious hope the industry may have passed the worst point of the coronavirus-induced lockdowns. Money managers purchased the equivalent of 41 million barrels in the six most important petroleum futures and options contracts in the week ending on April 28, exchange and regulatory records
Reuters LONDON – Hedge funds began trimming short positions in petroleum last week as crude oil prices fell to crisis levels for some producers and refiners and traders started to anticipate shutdowns at oilfields and refineries. Extreme high and low prices are usually fleeting because they are dynamically unstable and contain the seeds of their own destruction, forcing large and
Reuters LONDON – Hedge funds turned heavy sellers of petroleum last week as the threat of conflict in the Middle East receded and was replaced by renewed concerns about the health of the global economy. Hedge funds and other money managers sold the equivalent of 99 million barrels in the six most important petroleum futures and options contracts in the
CNBC West Texas Intermediate crude futures have rallied 13% this quarter and nearly 35% this year, putting oil on track to post its best annual performance since 2016. And now big investors are starting to get on board with the trade. “Hedge funds have swung from extreme bearishness to extreme bullishness,” Ned Davis Research energy strategist Warren Pies said in a
Houston Chronicle Hedge funds are approaching the end of the year more optimistic on global oil prices than they’ve been since May. Their net-bullish wagers on Brent crude climbed for the ninth week in 10, reaching a seven-month high, data released Friday show. The U.S.-China trade truce and OPEC’s commitment to deeper cuts have pushed futures to their highest since
Where there’s a plane, there’s a data trail From Bloomberg If you have a meeting with Warren Buffett in Omaha and you want to keep it a secret, consider driving. The airports are being watched. In April, a stock research firm told clients that a Gulfstream V owned by Houston-based Occidental Petroleum Corp. had been spotted at an Omaha airport. The
From Bloomberg Oil optimists look like they’re finally ready to take the driver’s seat in crude’s rebound. For the first time this year, a jump in bets that Brent crude prices will rise far surpassed the move by short-sellers, helping set the tone for money managers’ positioning on the global benchmark. Sentiment is now the most bullish since late October.
From PE Hub Family offices are becoming a preferred destination for many investment professionals, with several pros making the move these past months. “There was a time all investment guys wanted to go to hedge funds; now they want family offices,” said Michael Castine of Ridgeway Partners, an executive search and consulting firm. Among those who have made the move recently: APG Asset
Bridgewater Associates raising new capital; fund has returned an average 12% annually since 1991 Bridgewater Associates LP, the world’s largest hedge-fund manager, is raising new money for its flagship Pure Alpha fund for the first time since 2009. The firm is looking for new investors to bring the fund back to its optimal size, as the $70 billion Pure Alpha
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