Hedge Funds Shrug Off Saudi Attack as Oil Demand Concerns Linger
- Bets on rising Brent fell for the first time in three weeks
- Investors were more bullish on WTI; bets on a rise up 6.1%
Workers repair a damaged refining tower at Saudi Aramco's Abqaiq crude oil processing plant on Sept. 20.
Photographer: Faisal Al Nasser/BloombergThis article is for subscribers only.
The devastating attack on Saudi Arabian oil facilities fueled a record rise in crude futures, but hedge funds didn’t take the bait.
Money managers cut bullish bets on Brent oil by 3%, the first decline in three weeks, according to data released Friday.