Drivers Working From Home Leave Oil in Hands of Short-Sellers
- Hedge fund bets against Brent crude surge to most since 2017
- Crash has no end in sight as Covid-19 erodes demand outlook
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With the coronavirus pandemic prompting commuters around the world to stay home, there’s little incentive for fuel producers to absorb a flood of American, Saudi and Russian crude.
That’s probably going to leave the market in the hands of short-sellers for some time as oil trading giants hoard the commodity.