Actionable news
All posts from Actionable news
Actionable news in CHK: CHESAPEAKE ENERGY Corp,

Crude Oil Selling Potential May Be Nearing Exhaustion


Crude prices have softened for two months, $10.

Short speculators were behind the sell-off.

But their net short positions are approaching historic highs.

This may signal we are approaching an end to the downside pressure for now.

August crude futures prices fell 6% in the week ending July 26 th (to correspond to the data below), closing at $42.92. Prices softened later in the week, closing down another 3% at $41.49.