(Bloomberg) While enthusiasm in the U.S. oil market dwindles, things are looking a little brighter across the pond. For a second week, hedge funds refrained from making big bets on West Texas Intermediate prices stuck below $50 a barrel in New York as American output keeps rising. Meanwhile in London, Brent surged to a 12-week high as global physical markets tighten. The gap between the two benchmarks hasn’t been so wide in almost two years.
Brent Oil Steals Show as Hedge Funds Leave U.S. Crude Aside
This entry was posted in Syndicated. Bookmark the permalink.