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Money

Column: Saudi output cut entices funds back into oil market

LONDON, July 17 (Reuters) - Portfolio investors surged back into petroleum as Saudi Arabia’s unilateral production cut removed much of the previous downside risk to oil prices from slowing economies in China and Europe.Hedge funds and other money managers purchased the equivalent of 115 million barrels in the six most important petroleum futures and options contracts over the seven days ending on July 11.The increase was among the largest recorded over the last ten years (the 14th largest out of 539 weeks since 2013) and points to a significant adjustment...
Funds

Column: Oil investors less bearish after Saudi output cut extended

LONDON, July 10 (Reuters) - Portfolio investors tip-toed back into crude oil as Saudi Arabia extended its unilateral production cut for at least another month, dissipating some of the extreme pessimism gripping the market at the end of June.Hedge funds and other money managers purchased the equivalent of 47 million barrels in the six major petroleum futures and options contracts over the week ending on July 3-4.Buying was concentrated in crude (+52 million barrels) with purchases of Brent (+25 million) and NYMEX and ICE WTI (+27 million), according to exchange...
Funds

Column: Funds temper bearishness on oil: Kemp

LONDON, May 30 (Reuters) - Portfolio investors became slightly less bearish last week as the next policy-setting meeting of OPEC⁺ ministers neared and inventories of refined fuels remained well below the long-term seasonal average.Hedge funds and other money managers purchased the equivalent of 43 million barrels in the six most important petroleum futures and options contracts over the seven days ending on May 23.Net purchases were the first in five weeks, after funds sold the equivalent of 249 million barrels between April 18 and May 16, according to data from...