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Hedge Funds Cut Bullish Oil Bets by Most Since June Ahead of Election Day

By ChordNews · First written

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Summary

Hedge funds reduced their bullish crude oil bets by the most since June as the US and Iran struck rare de-escalatory notes, according to Bloomberg. The report says the funds were positioned to profit from an oil selloff after the Democratic sweep of Congress in the midterm elections.

This continues an earlier story: US Stocks Rally on Midterm Election Day as Democrats Sweep Toward Control of Congress and Oil Falls

Timeline

  1. Bloomberg

    Source ↗

    Bloomberg reports that hedge funds cut bullish crude bets by the most since June as the US and Iran struck rare de-escalatory notes, positioning them to profit from a selloff after the Democratic sweep of Congress.

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