Hedge Fund News From HedgeCo.Net


Oil Little Changed on Concern Demand Recovery Yet to Occur

 Bloomberg – Crude oil was little changed near $60 a barrel in New York amid concerns the global recovery has yet to take root, postponing a rebound in demand for fuel.

Hedge-fund managers and other large speculators reduced their net-long position in New York in the week ended July 7, according to the latest data from regulators. Stocks dropped from Dubai to Taipei and Treasuries rose on speculation that government rescue measures have not taken effect.

“Bearish sentiment in the market is persisting,” said Andrey Kryuchenkov, an analyst at VTB Capital in London. “It’s weak, so a move to $58.30 is possible, but we should consolidate around there.”

Read Complete Article

Related Posts Plugin for WordPress, Blogger...

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.