Oil's Record Bearishness Shows Market Increasingly Run by Algos

By Yahoo! Finance | Sep 28, 2024 at 05:39 AM EST

Speculators are increasingly betting against oil prices due to oversupply concerns and weakening global industrial demand. Investors are retreating, leaving trend-following funds to dominate with large short bets. Market uncertainty, exacerbated by the upcoming US election, is discouraging discretionary traders from buying oil.

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