Robot Traders Hike Bullish Oil Bets as Trump’s Iran Comments Jolt Prices
An oil pump jack in Midland, Texas.
Photographer: Sergio Flores/BloombergAlgorithmic traders have turned bullish on crude oil for the first time since September as US President Donald Trump intensifies his rhetoric against the Iranian government.
Trend-following commodity trading advisers, which use computer models to bet on price moves, were about 18% long relative to their maximum possible positions in Brent oil futures on Tuesday, according to data from Bridgeton Research Group. That marks the biggest single-day shift in the robot traders’ wagers since Oct. 10.