Economics

Oil Slump Catches Funds Off Guard in Longest Bull Run Since 2012

Net-long position on Brent rose for eighth straight week
But prices don’t comply, posting first weekly loss in 3 weeks

Drilling For Oil in The Eagle Ford Shale — Photographer: Eddie Seal/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Alex Nussbaum and Ben Foldy

March 1, 2019 at 10:33 PM UTC

Updated on

March 4, 2019 at 12:00 AM UTC

This article is for subscribers only.

Oil’s sudden slump seems to have caught optimists by surprise.

Hedge funds increased wagers on rising Brent crude prices for an eighth straight week, the longest streak since 2012, according to ICE Futures Europe data for the seven days through Feb. 26.