Hedge Funds Turn More Bullish Across Energy as Prices Rally
- Money managers boost gross longs in gasoline to 21-month high
- Gasoline futures have surged amid refinery outages, low stocks
This article is for subscribers only.
Hedge funds boosted bullish wagers across the energy complex as crude prices broke out of their recent range, climbing above $80 a barrel, and gasoline prices surge to multi-month highs.
Speculators hiked net long positions in the two benchmark crude futures to a three-month high while long-only bets in US gasoline futures skyrocketed to about 89,278 lots in the week ending July 25, the highest in nearly two years, according to data from the Commodity Futures Trading Commission and Intercontinental Exchange.