LONDON, Nov 7 (Reuters) – Expected disruptions to Russia’s oil exports from the planned G7 price cap and reduction in OPEC+ production targets are encouraging more hedge funds to take bullish positions in the crude oil market.
Hedge funds and other money managers bought the equivalent of 35 million barrels in the top six oil futures and options contracts in the week ended November 1st.
Almost all purchases were in Brent (+22 million barrels) and NYMEX…
