Hedge funds sell energy stocks before Middle East conflict - Goldman

LONDON - Global hedge fund managers were selling U.S. stocks sensitive to commodities at an accelerated pace in the week ending October 6, according to a Goldman Sachs note to clients, just before the price of oil jumped more than $3 a barrel on Monday.

The jump in the price of crude on Monday reversed last week's downtrend - the largest weekly decline since March - in which Brent fell about 11% and WTI retreated more than 8% amid concern about high interest rates and their impact on global demand. Saudi officials had reportedly told the White House on Friday that as part of the deal, they might have raised oil output, after months of supply cuts.

U.S. energy stocks saw net sales in the week ending October 6 for the second straight week in a row and in the eight previous trading sessions, the bank said.The TFSA Play: Turn $6,500 Into a Retirement Goldmine

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

U.S. stocks slip, oil surges on Middle East violenceU.S. stock futures slipped in Asia on Monday as the military conflict in the Middle East boosted oil and Treasuries, while the sizzling September U.S. jobs...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

U.S. stocks slip, oil surges on Middle East violenceExplore stories from Atlantic Canada.
Fuente: SaltWire Network - 🏆 45. / 63 Leer más »