#1-Ranked Industry Analyst Patrick Moorhead dives deeper as San Jose-based manufacturer, Flex, announced this past week its sustainability plan on Earth Day.
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LONDON (Reuters) - Portfolio managers increased their exposure to petroleum slightly last week, focusing mainly on Brent, but positions remained rangebound as OPEC+ production discipline was offset by a new wave of coronavirus infections.
FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford
Hedge funds and other money managers bought the equivalent of 14 million barrels in the six most important petroleum futures and options contracts in the week ending April 20. (tmsnrt.rs/2QzX1Tl)
The combined positions across all six contracts rose to a three-week high of 832 million barrels, according to records published by ICE Futures Europe and the U.S. Commodity Futures Trading Commission.