Weak Physical Oil Market Hits $50 Billion Hedge Funds‘ Bet
The real world of oil trading where actual cargoes are bought and sold is doing little to help the hedge funds and other speculators who placed record bets that OPEC and its allies would drive up prices.
Saudi Arabia, Russia and other big producers are trying to clear a global crude glut, but three months into the effort the physical oil market is still signaling plentiful supplies. The persisting excess offers little comfort to financial traders, wh ...
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