Hedge funds keeps scaling back wagers on oil growth after a two-week break. Swap dealers do not lag behind.
Hedge fund portfolios had 461,8 thousands long contracts and 37,6 thousands short contracts in the week ending in April 4. So the total net long position for crude shrunk to 424.3 thousand contracts, which is 43.8 thousand contracts less than a week earlier. The gap between the record volumes set at the end of January rose to 71.9 thousand contracts. Commodity swap activity from the swap dealers accounted for the respective cut of hedge funds longs Continue reading