Hedge Funds Flee Bearish Oil Bets After US Sanctions Russia

Hedge funds cut their bearish position on Brent crude by the most on record after the US imposed sanctions on Russia’s biggest oil companies, threatening exports from the OPEC+ producer...

By Mia Gindis · Bloomberg Markets

Hedge funds cut their bearish position on Brent crude by the most on record after the US imposed sanctions on Russia’s biggest oil companies, threatening exports from the OPEC+ producer just as the market was adjusting to the reality of oversupply.