Hedge funds have sharply reduced bearish positions on European diesel, signalling growing expectations that a severe fuel supply squeeze will persist as disruptions to crude and refined-product flows continue, according to a report by Bloomberg.
The report cites data from ICE Futures Europe as showing that short-only positions in European gasoil fell to their lowest level in more than two years last week, while funds increased bullish bets to their highest level since shortly before the US-Iran...
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