Hedge Funds Racing Oil Refiners to $100 a Barrel: Energy Markets – Bloomberg 02-04-13

Salient to Investors:

Money managers increased net-long positions on rising US oil prices to a nine-month high last week, in the longest weekly run of gains in records back to June 2006.

John Kilduff at Again Capital says oil is in a bull market and headed for $100 or above.

Miswin Mahesh at Barclays positive economic sentiment has provided a strong base for the uptrend.

Tim Evans at Citi Futures Perspective says we are getting more overbought.

The US met 84 percent of its energy needs in the first 10 months of 2012, on pace to be the highest annual level since 1991.

ICE Futures Europe said hedge funds et al raised bullish bets on Brent crude to the highest level in two years.

Read the full article at http://www.bloomberg.com/news/2013-02-04/hedge-funds-racing-oil-refiners-to-100-a-barrel-energy-markets.html

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Oil Declines Below $80 for a Third Day on Euro-Zone Debt – Bloomberg 06-25-12

Salient to Investors:

George Soros warned that a failure by EU leaders to produce drastic measures could spell the demise of the Euro and that policy makers should create a European Fiscal Authority to purchase sovereign debt in return for Italy and Spain implementing achievable budget cuts Soros said Angela Merkel is worsening Europe’s crisis because countries need growth, not the austerity she has called for.

Hedge funds reduced bullish oil bets to a 19-month low in the seven days ended June 19. Money managers, including funds, commodity pools and commodity trading advisers, cut bets for a seventh week.

Predictions:

John Kilduff said things don’t look promising for the summit, and nothing appears to be in the cards that will end the crisis, and an ultimate breakdown looks likely.

Read the full article at http://www.bloomberg.com/news/2012-06-25/oil-declines-below-80-for-a-third-day-on-euro-zone-debt.html