atans1

Oil bulls extinct; Only vultures left

In Energy on 06/01/2015 at 1:59 pm

The US oil price fell below the symbolic threshold of US$50 a barrel for the first time since April 2009, before finishing the day at US$50.05: NY last night.

This report appeared on I Jan

Hedge funds finally pulled back from bets on higher oil prices as the market faced its worst year since 2008.

Speculators reduced their net-long position in West Texas Intermediate crude for the first time in four weeks, cutting their holdings by 5 percent in the week ended Dec. 23, Commodity Futures Trading Commission data showed yesterday. Long wagers dropped the most since August.

http://www.bloomberg.com/news/2014-12-31/hedge-funds-surrender-to-oil-rout-as-bullish-bets-drop.html

Meanwhile junk energy bonds keep on tanking. The vultures are circling.

high yield bonds

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