Trump’s latest comments cooled oil prices, but talks over ending the Strait of Hormuz blockade could prove far more consequential.
Hedge Funds Pile Back into Oil as Chokepoint Risks Return – The signing of the US-Iran Memorandum of Understanding triggered one of the largest hedge fund sell-offs for crude futures and options, however the closure of the Strait of Hormuz (and now of Bab el-Mandeb) has made bullishness in vogue again. – Net positions held by hedge funds and other money managers in ICE Brent futures and options rebounded…