Column: Oil buying slows amid renewed concerns about economy – Reuters.com

Column: Oil buying slows amid renewed concerns about economy – Reuters.com

LONDON, April 24 (Reuters) - Investors added to petroleum positions last week but at a much slower rate than before as short covering was completed and renewed concerns about the strength of petroleum consumption emerged.

Hedge funds and other money managers purchased the equivalent of 20 million barrels in the six most important futures and options contracts over the seven days ending on April 18.

But buying slowed from 36 million barrels in the week to April 11 and 128 million in the week to April 4, according to position records published by ICE Futures and the U.S. Commodity Futures Trading Commission.