Hedge Funds Rush Into Oil Short Bets as OPEC Supply Risk Looms

Hedge funds loaded up on the most bearish bets against Brent crude since October as the market braced for a fresh injection of OPEC+ supply.
Money managers upped their short-only bets on Brent by 16,922 lots to 130,019 lots in the week ended May 27, the most in eight months, according to figures from ICE Futures Europe. At the same time, short-only bets against West Texas Intermediate rose to a three-week high, data from the Commodity Futures Trading Commission show.

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