Hedge funds swiftly retreat from oil as Israel-Iran tensions ease: John Kemp
Investors swiftly sold oil amidst eased tensions between Israel and Iran, stalling crude's rally below $100 per barrel. Hedge funds offloaded 95 million barrels, the fastest since October 2023. Bullish sentiment waned as geopolitical risks diminished, leading to a shift in price dynamics. Gasoline and natural gas outlooks also fluctuated.
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SOURCE: REUTERS
By John Kemp
LONDON, April 29 (Reuters) – Investors sold oil at the fastest rate for more than six months amid signs that Israel and Iran have chosen not to escalate their conflict, ensuring the rally in crude prices stalled well before reaching $100 per barrel.
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