Hedge Funds Curb Bets on Rising Oil Price Just as Rally Falters
- U.S. benchmark crude posts worst week since early May
- WTI short positions rose for first time in four weeks
Photographer: Andrey Rudakov/Bloomberg
This article is for subscribers only.
Hedge funds are showing signs of wavering confidence in ever-higher oil prices.
Money managers were taking money off the table before Brent had its worst day in two years on Wednesday. Bets on rising prices for the international benchmark fell for a second week in three, while contracts wagering on a drop in the U.S. oil price rose the most since May -- with bets on a rally barely budging.