Hedge funds increase the bet on oil prices rise due to sanctions and geopolitical risks

Divide strengthened its bubbles on Brent -Ru in the largest frequency in five months, amid an American escalation against Iran and the increasing tension in the Middle East, threatening to reduce global supplies. According to the data of the Ice Futures Europe, money managers increased their net purchase centers on Brent -Ru by 55.932 contracts to 262.070 contracts, during the week ended March 25, the largest increase since last October. This increase has come amid the willingness of clients to the possibility of global supplies, after US President Donald Trump ordered the military operations against the Iranian Houthi group, while Israel ended the ceasefire with Hamas. The United States also set sanctions on a small Chinese refinery and its executive director, along with an oil operator, for allegedly buying Iranian oil, in an attempt to revive the ‘maximum pressure’ campaign against Tehran. Meanwhile, the pure purchasing centers of division funds at the Western Texas -Tussentage rough rose to the highest level in five weeks, according to the data of the US Commodity Futures Committee, after Trump threatened to impose customs duties on the countries buying Venezuelan oil.