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Oil producers hedge rally with Brent shorts

Energy firms hedge oil spike as funds position for further gains

US oil producers and hedge funds took sharply different positions in Brent futures during the first 10 days of the US-Israeli war with Iran, as energy firms moved to hedge soaring prices while speculative investors positioned for further gains.

Producers ramped up short positions to lock in prices after crude prices surged amid disruption to shipping through the Strait of Hormuz.

Money managers

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