Oil producer hedging surges amid Middle East turmoil

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US oil producers have sharply increased their hedging activity in the past two months, as unrest in Egypt and a bloody civil war in Syria have driven up crude prices, traders say.

"With the run-up in the front of the curve, we have definitely seen a good volume of oil hedging activity, going out through around 2015," says Craig Breslau, Houston-based managing director for marketing and trading at Société Générale Corporate & Investment Banking (SG CIB). "The volume has definitely increased since