Hedge Funds Get Bullish on Oil Again as OPEC Prepares to Meet [Bloomberg Business News]
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Bloomberg Business News
After two months of cutting bets on rising prices, hedge funds are feeling optimistic again as OPEC prepares to meet. Whether that optimism is warranted remains an open question. Falling output from Iran and Venezuela briefly had analysts touting the possibility of $100-a-barrel oil ahead, and hedge funds boosted wagers on a price rebound in the week ending on Tuesday. Since then, though, a push by Saudi Arabia and Russia for production increases ahead of next Friday’s OPEC meeting has injected an uncertain new element into the picture, pushing futures in London down 4 percent over two days. “Traders are uncertain about how broad these production increases will be. It’s hard to trust the numbers, especially when Saudi Arabia was recently talking about $85-$100 oil being pleasing to them,” said John Kilduff, a partner at Again Capital LLC. A decision to gradually increase production when OPEC and its allies meet in Vienna next weekend is “ inevitabl
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News
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ICE
Earnings
- 2/8/24 - Beat
ICE
Sec Filings
- 4/5/24 - Form 4
- 4/3/24 - Form 144
- 4/3/24 - Form 144
- ICE's page on the SEC website