The US Commodity Futures Trading Commission reported hedge funds raised their net long positions on WIT by 4% to 157,648 and decreased their short positions by 7% during the week to March 12. It was the third consecutive week of increasing long positions, and analysts seem to think that more are to come. Ahead of the Joint Ministerial Monitoring Committee meeting on March 18, Ashley Petersen of New-York-based Stratas Advisors LLC said, “As long as we come out of fhe weekend with stasis, the hedge funds will consider that a positive sign and will continue to support the bull run.” Bill O'Grady of Missouri-based Confluence Investment Management noted, “The Saudis appear pretty committed to trying to keep supplies constrained and generally, if the Saudis are willing to put that out there, the rest of the cartel usually goes along.”
展开▼
