COLUMN-Hedge funds lack conviction on oil outlook: Kemp – ZAWYA

COLUMN-Hedge funds lack conviction on oil outlook: Kemp – ZAWYA

COLUMN-Hedge funds lack conviction on oil outlook: Kemp | ZAWYA MENA Edition HomeMarketsCommoditiesArticleCOLUMN-Hedge funds lack conviction on oil outlook: Kemp The equivalent of 26mln barrels were purchased by hedge funds    (John Kemp is a Reuters market analyst. The views expressed are his own)LONDON- Hedge funds increased their bullish positioning in oil last week, reversing a bearish move the week before, but the minimal changes serve to confirm the market's lack of direction since the start of June.The equivalent of 26 million barrels were purchased by hedge funds and other money managers in the six most important futures and options contracts in the week to June 23, after selling 16 million barrels the previous week.LONDON- Hedge funds increased their bullish positioning in oil last week, reversing a bearish move the week before, but the minimal changes serve to confirm the market's lack of direction since the start of June.(John Kemp is a Reuters market analyst. The views expressed are his own)The equivalent of 26 million barrels were purchased by hedge funds and other money managers in the six most important futures and options contracts in the week to June 23, after selling 16 million barrels the previous week.Portfolio managers hold