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Hedge funds are betting on gasoil price drop

Gasoil prices may fall

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Hedge funds have cut their bullish gasoil wagers by the most on record with the fewest net-long positions in more than five months. Money managers reduced overall positions by 50,388 betting on rising gasoil prices, bringing the total to 144,954 during the week ending Feb. 13, according to weekly ICE Futures Europe data. Positions were shorted following last week’s selloff in equities and commodities markets, with WTI and Brent crude oil posting their biggest weekly declines in more than three years.

Source: Bloomberg Pro Terminal

Trader Bozhidar Arabadzhiev


 Varchev Traders

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