Hedge funds increased their bearish bets against gasoline prices to the highest in seven years after this year’s summer driving season has delivered only tepid demand so far.
Money managers’ short-only positions in gasoline rose by 5,093 lots to 36,729 lots in the week ended July 2, according to the Commodity Futures Trading Commission. That’s the highest since July 2017.
Consumption of the fuel during the North American summer driving season has been lackluster. Gasoline inventories expanded by the most since January, according to the Energy Information Administration’s June 26 report. Fuel demand on a four-week basis fell for the first time in two months over the period.
Data for the July 4 holiday have yet to be released. The American Automobile Association predicted that about 71 million Americans would travel over Independence Day.
Despite the sluggish forecast for fuel, crude rallied over the week ending July 2, hitting two-month highs on risks from Hurricane Beryl and rising tensions in the Middle East and Europe. Money managers increased their net bullish position on West Texas Intermediate by 13,265 lots to 249,081, the biggest since October.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Two C-level leaders reveal the new time-saving tools they've implemented and what advisors are doing with their newly freed-up hours.
The RIA led by Merrill Lynch veteran John Thiel is helping its advisors take part in the growing trend toward fee-based annuities.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
