Macro & Oil Report: Central bank rate cuts: hope revives, but caution remains
Central bank rate cuts: hope revives, but caution remains Macro & Oil #97 A consensus seems to be forming in favour of a general cut…
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Last week’s crude oil price decline was likely caused by a broad selloff in Brent and WTI futures, as total open interest declined significantly. Looking at ICE Brent futures positioning, every category (managed- money, merchant players, swap dealers) reduced their exposure, as volatility was expected to rise, amid an uncertain OPEC+ production policy.