Macro Finance
Hedge Funds Fled Bullish Oil Bets Ahead of Election Day Drop
Bloomberg Markets·November 6, 2026·1 min read
Hedge funds cut bullish crude oil bets by the most since June, positioning to profit from a selloff after the Democratic sweep of Congress. The move followed rare de-escalatory notes between the US and Iran ahead of Election Day, which triggered a drop in prices. Funds had previously held large long positions, making them vulnerable to the decline.
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