Hedge Funds Turn More Bullish on Brent Oil as Iran Talks Stall

Hedge funds boosted their bullish position on Brent crude by the most since early April as fading prospects for a quick US-Iran nuclear deal raised expectations that the OPEC member's flows may be curtailed.
Money managers increased their net-long position on Brent by 12,185 lots to 163,329 lots in the week ended May 20, according to figures from ICE Futures Europe. That's the most bullish since just before US President Donald Trump's tariff rollout.

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18 minutes ago

• Wall Street Journal

Brent Crude-Oil Futures Rise as Markets Watch Strait of Hormuz

2230 GMT — Brent crude jumps early in Asia, reflecting a market on edge about Iran's threat to disrupt shipping through the Strait of Hormuz. Iranian politicians have repeatedly threatened the strait, which handles roughly one-fifth of the world's petroleum as well as massive cargoes of natural gas. Any disruption would send oil prices soaring. Front-month Brent is up 3.1% at $79.40 a barrel. ( @RhiannonHoyle)

Yahoo

19 minutes ago

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Buss Family to See Astonishing Profit After Record-Setting Sale of Lakers

The Los Angeles Lakers set yet another record on Wednesday, June 18, in what's become a lengthy line of making a variety of notable sports history, with the Buss family somewhat stunningly selling the storied franchise that the late Dr. Jerry Buss originally purchased for $67.5 million in 1979. Now, 46 years later after what proved to be a franchise-altering moment that saw the Lakers go on numerous NBA Championship runs, hoisting the Larry O'Brien trophy a whopping 11 times under Buss ownership, the legendary family is about to see a patently ridiculous profit after selling the team to Mark Walter, the current owner of the Los Angeles Dodgers. Advertisement With ESPN's Shams Charania dropping the news bomb late Wednesday afternoon, the Buss family sold its 66 percent majority stake in the Lakers for "a valuation of approximately $10 billion," Just as Charania did in his followup post on X, it certainly feels like a number worth repeating: Ten. Billion. And as Sportsnaut quite specifically noted, this record-setting Lakers sale "represents a staggering return on investment for the [Buss] family at 14,714.81%." Considering the Buss family will also maintain a minority share of the team at "just over 15% for a period of time," in addition to Jeanie Buss reportedly staying on as Lakers' governor—a role she's held since ownership was kept in the family following Jerry's passing in 2013—that is one hell of a win and a payday all while the 63-year-old will still hold a significant influence on the direction of the franchise. Advertisement If that $10 billion valuation number hasn't resonated just yet, keep in mind that the Boston Celtics, an equally iconic and deeply treasured NBA franchise, sold earlier this year for "only" $6.1 billion. It's also worth noting that Walter, the new majority owner of the Lakers, had already purchased a 26 percent stake of the team back in 2021 and held first right of refusal if the Buss family were to ever sell its majority stake in the franchise. On Wednesday afternoon, the man who's proven to be a fearless owner when it comes to spending and securing top MLB free-agents ever since taking a majority stake in the Dodgers in 2012, finished off the deal with the Lakers that began four years ago. It would be sincerely shocking if Walter and his ownership group didn't set out to do with the Lakers exactly what they've aggressively done with the Dodgers, which should serve as exceptionally great news for fans of the purple and gold. Advertisement Related: Jordan Spieth Chose an Extremely Relatable Outing After U.S. Open Struggles Buss Family to See Astonishing Profit After Record-Setting Sale of Lakers first appeared on Men's Journal on Jun 19, 2025

Yahoo

24 minutes ago

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MLB rumors: Cubs among 5 other teams Red Sox talked Rafael Devers trade with before Giants deal

The post MLB rumors: Cubs among 5 other teams Red Sox talked Rafael Devers trade with before Giants deal appeared first on ClutchPoints. The Boston Red Sox shocked the MLB world last week when they sent Rafael Devers to the San Francisco Giants in a blockbuster trade that materialized from seemingly out of nowhere. While the front office did a good job of keeping their trade negotiations under wraps, it sounds like the Giants weren't the only team they were negotiating with, as the Chicago Cubs were among several other teams in the running for Devers. Advertisement Tensions between Devers and the Red Sox had been boiling all season long, due in large part to his unhappiness with the team continually looking to change his position. Boston finally decided to cut bait with their superstar slugger, but not after discussing a deal with a couple other teams. San Francisco landed him, but the Cubs, Seattle Mariners, San Diego Padres, Toronto Blue Jays, and Atlanta Braves were also involved in discussions for Devers. 'The Red Sox say that they had conversations with the Mariners, Cubs, Padres, Blue Jays and Atlanta about Devers before dealing him to San Francisco,' Bob Nightengale of USA Today reported. How Giants landed Rafael Devers from Red Sox over Cubs, other teams D. Ross Cameron-Imagn Images The Red Sox could have prioritized bringing in top-tier prospects in exchange for Devers, but they had a different goal when it came to this deal. They wanted to get out of the remainder of Devers' 10-year, $313.5 million contract extension he signed back in 2023, and according to Giants owner Greg Johnson, his team's willingness to take on that deal is the main reason why the trade went down. Advertisement 'If the Giants had not agreed to assume the $254.5 million remaining in Devers' contract, Giants owner Greg Johnson says there would have been no trade,' Nightengale reported. Even then, Boston still got a decent return for Devers, as Kyle Harrison and James Tibbs III both have a lot of upside in the eyes of several talent evaluators. In the end, though, money talks, and that was how the Giants managed to outbid the rest of their competition and bring Devers to town as they look to make a World Series push in 2025. Related: MLB rumors: Yankees, Giants monitoring Pirates for trade Related: Dodgers, Padres get suspensions after scuffle