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Hedge funds increase bullish Brent exposure to decade high build
The latest weekly rise in long Brent positions, tied to renewed US-Iran supply worries, was the largest build-up in nearly a decade, according to Bloomberg.
Hedge funds sharply increased their bullish exposure to Brent crude during the week to 14 July, marking the largest weekly build-up in long positions in nearly a decade, according to a report cited by Hedgeweek, based on data from Bloomberg.
The shift comes as escalating conflict between the US and Iran reignited concerns about global oil supply, supporting expectations of higher prices.
Hedgeweek said the move reflects a broader rally in Brent tied to the renewed geopolitical risk.
Latest closeWTI crude $79.00 ▼0.8%|Brent $84.94 ▼0.0%