Business Standard

As oil bulls on, hedge funds place bets for longest run in 13 years

Gasoline prices have risen in tandem this year, and Trump on Friday said that he has pressured Opec to boost output to reverse the trend

Interim Budget 2019: FM has cheap crude oil to thank for his fiscal record
Premium

Alex Nussbaum | Bloomberg
Oil is on its longest bull run in 13 years, fueling a rally that has US President Donald Trump fretting about higher prices.

Hedge funds have increased bullish sentiment on US crude prices for the last nine weeks, the longest such run since 2006, according to data released on Friday. Almost 14 times as many bets have been placed on prices going up as on a decline, as investors see supply threats multiplying around the globe.

Gasoline prices have risen in tandem this year, and Trump on Friday said that he has pressured Opec to boost output to reverse the trend. That

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 28 2019 | 12:49 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com