Today's Oil & Gas Update - Vaalco Energy and more...
WTI Oil US$64.3/bbl vs US$65.3/bbl yesterday Natural Gas US$2.91/mmbtu vs US$2.93/mmbtu yesterday Oil Price News Money managers continue to take a bullish stance in oil futures and options contracts, estimating that oil prices will increase later this year as economies reopen and travel and fuel demand rise In the week to 4 May, hedge funds bought the equivalent of 40MMbbls in both Brent and WTI according to Reuters This was the fourth week in a row in which portfolio managers have added long positions in oil futures In the week to 27 April, hedge funds added the equivalent of 30MMbbls i...