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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...

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...

Vendors prepare products at a store painted with Venezuelan and U.S. flags in Maracaibo September 12, 2008. REUTERS/Isaac Urrutia/File PhotoCARACAS/MADRID/NEW YORK, June 15 (Reuters) - Small funds and investors outside the United States are looking to increase their exposure to Venezuelan bonds, on the expectation of debt renegotiations or of legal action tied to a looming expiry of repayment rights, investors and four financial sector sources said.Many of the bonds are trading at pennies on the dollar after a default in 2017, compounded by 2018 sanctions from Washington that barred...

CHICAGO, June 13 (Reuters) - U.S. grains merchant Bunge (BG.N) and Glencore-backed (GLEN.L) Viterra are merging to create an agricultural trading giant worth about $34 billion including debt, the companies said on Tuesday, in a deal that will likely draw close regulatory scrutiny.The deal brings the combined company closer in global scale to leading rivals Archer-Daniels-Midland (ADM.N) and Cargill (CARG.UL), valuing Bunge and Viterra at about $17 billion each. Bunge shareholders, however, will own about 70% of the company, because Bunge will pay for a significant chunk of the deal...

White House rebuts reports of Iran oil dealFed expected to keep interest rates on hold in JuneU.S. crude stocks fall, gasoline inventories riseJune 8 (Reuters) - Oil prices settled lower on Thursday but rebounded from earlier losses after the U.S. and Iran both denied a report that they were close to a nuclear deal.Oil fell by more than $3 on the report that the U.S. would give Iran sanctions relief to export oil in return for Tehran reducing uranium enrichment.A spokesperson for the White House National Security Council called the...

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...