Energy Quote of the Day: Long Positions Retreat with Oil Prices in ‘Bear Raid’
Breaking Energy 2014-01-13
Summary:
Hedge funds are pulling out of bets that crude oil prices will rise in the short to medium term. With the market currently well supplied, investors are increasingly taking futures and options positions that could be profitable if oil prices decline further. “Money managers cut net-long positions, or wagers on rising prices, for benchmark West