(Reuters) Hedge funds turned bearish towards U.S. crude while boosting bullish positions in gasoline and heating oil in the final week of August, anticipating major disruption to U.S. refineries as a result of Hurricane Harvey. Hedge fund operators responded in the classic textbook manner for a supply interruption expected to hit refineries rather than crude production by selling crude while buying fuels (tmsnrt.rs/2wALpRt). Hedge funds and other money managers cut their net long position in futures and options contracts linked to Brent and WTI by 107 million barrels to 582 million barrels in the week to Aug. 29.
Hedge Funds Anticipate Hurricane Disruption to US Refineries
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