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Fears of Too Much Oil Bring Short-Selling Back

  • Hedge funds boosted bets on falling WTI by most this year
  • Wagers that Brent crude prices will decline also jumped
The Chevron Corp. Permian Trove Is Changing U.S. Shale
Photographer: Daniel Acker/Bloomberg
Updated on

Short-selling is creeping back into the oil market as fears increase that the U.S. will be awash with oil again.

Hedge funds boosted bets on falling West Texas Intermediate crude prices by the most this year after American production surged to record levels. While OPEC last week reaffirmed its commitment to rebalancing the market, U.S. fields are forecast to be gushing 11 million barrels a day by October.