BofA: Oil Prices Could Jump on Coming Short Covering

BofA: Oil Prices Could Jump on Coming Short Covering

Trend-following commodity trading advisors (CTAs) could soon begin covering their significant short positions in oil, driving prices higher, according to Bank of America analysts cited by Investing.com. The sudden buying demand in the crude futures market has the potential to lead to a short-term rally in oil prices if CTAs rush to short covering. Last week, oil prices lodged another weekly gain, despite the announcement from OPEC+ that the grou…

Oil Prices Could Spike On Coming CTA Short Covering: BofA

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BofA: Oil prices could jump on coming short covering – Oil & Gas 360

(Oil Price) – Trend-following commodity trading advisors (CTAs) could soon begin covering their significant short positions in oil, driving prices higher, according to Bank of America analysts cited by Investing.com. The sudden buying demand in the crude futures market has the potential to lead to a short-term rally in oil prices if CTAs rush to short covering. Last week, oil prices lodged another weekly gain, despite the announcement from OPEC+