Column: Funds sell oil at fastest rate for 15 weeks as economic outlook worsens

By John Kemp

LONDON, June 27 (Reuters) – Investors sold petroleum last week at the fastest rate since just after Russia’s invasion of Ukraine, as the deteriorating economic outlook trumped fears about the impact of sanctions on oil supplies.

Hedge funds and other money managers sold the equivalent of 71 million barrels in the six most important petroleum futures and options contracts in the week to June 21.

View entirety: Reuters