INSUBCONTINENT EXCLUSIVE:
By Catherine NgaiAfter two months of cutting bets on rising prices, hedge funds are feeling optimistic again as OPEC prepares to
meet.
Whether that optimism is warranted remains an open question.
Falling output from Iran and Venezuela briefly had analysts touting the
possibility of $100-a-barrel oil ahead, and hedge funds boosted wagers on a price rebound in the week ending on Tuesday
production increases will be
Kilduff, a partner at Again Capital LLC.
A decision to gradually increase production when OPEC and its allies meet in Vienna next weekend is
Cup match between the two nations.
The group, dubbed OPEC+, could consider an increase of as much as 1.5 million barrels a day, Russian
Energy Minister Alexander Novak said
That would be enough to offset the supply losses from Venezuela and Iran foreseen by the International Energy Agency
Saudi Arabia has been discussing different scenarios that would raise production by between 500,000 and 1 million barrels a day, according
position -- the difference between bets on a price increase and wagers on a drop -- by 4.1 percent to 455,943 futures and options during the
week ended June 12, weekly ICE Futures Europe data show
Longs rose 2.9 percent and shorts fell 4 percent
Net bets on rising United States crude prices rose slightly, while bullish wagers on gasoline and diesel plunged.
United States President
