Hedgies drive oil bear to new lows

Via John Kemp comes weekly charts of hedge fund oil positioning which is definitely getting short:

But has scope to get materially shorter yet:

I still fear a Q4 price crash for oil as falling seasonal demand and wider global growth weakening combine to deliver another period of glut:

It is my key trigger for a share market correction as well as junk debt slides with US shalers.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)

Comments are hidden for Membership Subscribers only.