Hedge Funds Haven't Been This Bullish On Oil Since Pandemic Started – Investment Watch
Money managers started 2021 with optimism that oil prices will benefit from a rise in economic activity as vaccines are being rolled out. Hedge funds and other portfolio managers held at the end of December 2020 the most bullish overall position in the most traded oil futures and options contracts since the beginning of 2020. Fund managers held an overall net long position—the difference between bullish and bearish bets—of as much as 741 million barrels equivalent of oil in the six most important petroleum contracts as of December 29, according to data from exchanges compiled by Reute...
Source: investmentwatchblog.com