finance
Hedge Funds Increase Short Positions in Brent Crude
Money managers more than doubled bearish bets on Brent crude over seven weeks. The increase coincides with expectations that the Strait of Hormuz blockade may ease.
May 23, 7:51 AM·1m read1 source
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Hedge funds and other money managers increased short positions in Brent crude for the seventh straight week, according to records filed with ICE Futures Europe. Short holdings reached 100 million barrels by May 19, up from 40 million barrels on March 31.
The rise in short positions occurred as traders anticipated that the dual blockade of the Strait of Hormuz could be eased through negotiations or broken by force. The data cover positions held through the most recent filing date available to ICE Futures Europe. No additional details on specific traders or contract expirations were included in the records.
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