Oil Futures - Feb 4
Posted: Sat Mar 04, 2023 8:45 am
Bloomberg:
"Money managers’ short-only positions on
Brent crude dropped to the lowest level since 2011, according to
data from the ICE. The retreat from bearish positions suggest
oil traders are betting on higher prices as confidence in
China’s recovery offsets concerns of growing US stockpiles." < Growing U.S. crude oil inventories are due to lots of refineries now doing annual maintenance.
"Money managers’ short-only positions on
Brent crude dropped to the lowest level since 2011, according to
data from the ICE. The retreat from bearish positions suggest
oil traders are betting on higher prices as confidence in
China’s recovery offsets concerns of growing US stockpiles." < Growing U.S. crude oil inventories are due to lots of refineries now doing annual maintenance.