Physical and Paper Markets According to Reuters’ John Kemp, hedge funds and other institutional traders were net sellers for 10 of the last 16 weeks, reducing their positions across the most traded oil contracts by a combined 237 million barrels since June.
Further reflecting growing fears of a recession during the third quarter, Kemp’s figures showed that institutional traders reduced their bullish long-term positions on oil to a ratio of 3.61 to 1 from 6.68 to 1 in June........There's a lot of Short interests still out there..