Hedge Funds Boost Short Positions on Oil Amid US China Tariffs
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Hedge funds have raised bearish positions on oil due to concerns that US China tariffs will reduce energy demand, with short positions increasing significantly.
Hedge funds have significantly increased their bearish bets against oil, marking the highest surge in three months. This move comes as concerns grow that the ongoing dueling tariffs between the United States and China may diminish energy demand.
According to data from the Commodity Futures Trading Commission, money managers raised their short-only positions on West Texas Intermediate by 15,774 lots, bringing the total to 57,441 lots for the week that ended on February 4. This increase represents the most substantial jump since October.
