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Hedge Funds Battle Physical Oil Traders Over Permian Logjam

  • Funds bet on pipeline congestion, traders see export relief
  • Crude output, exports from U.S. hitting fresh record highs
Updated on

It’s oil’s version of Godzilla versus Mothra.

The widest gap in three years between U.S. and global oil prices is shaping up as a battle between trading giants who see an opportunity to export millions of barrels at great profit and financial players betting pipeline bottlenecks will make Texas crude even cheaper.