Big Oil & Bank Selling BIG: Short Crude Oil Position Now Largest Since August

According to the latest cftc.gov data, at April 21st Producers and Swap Dealers combined short position made a new “high” (or is it low…) since August at 422,000 contracts. Between March 31st and April 21st they sold a staggering 136,000 contracts and at the same time the oil price gained about $8 … Why are GS, JPM, XOM, BP selling oil when “everybody” says the price is going up?  Hmm.

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