The U.S. sanctions on Russian oil companies disrupt market expectations, and hedge funds miss out on the rising market due to massive short positions
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U.S. sanctions against Russian oil companies have disrupted market expectations, and hedge funds holding record short positions in Brent crude oil failed to capitalize on the rising oil prices. According to data, fund managers' short positions increased to 197,868 contracts, a historic high. The U.S. government's sanctions unexpectedly supported oil prices, which are expected to lead to a reduction of up to 600,000 barrels per day in Russian crude oil production
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