Tag: Commodities
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Oil price forecast: Can record hedge fund shorts push WTI below $55?
Analysts warn that WTI crude could drop to around $55 per barrel as hedge funds boost record short positions amid growing oversupply concerns. Bearish bets on Brent rose by 40,000 contracts in the week ending October 21, pushing total short positions to an all-time high of nearly 198,000 doubling in just three months. The trend…