Oil Market Sees Bearish Sentiment Amid Demand Concerns

Bank of America has warned that investors shorting oil may be heading into a bear trap, as energy demand is set to surge. The financial institution suggests that positioning against oil could backfire due to potential upticks in demand.

According to OilPrice.com, energy investors are displaying a decisively bearish sentiment.

In line with this perspective, Markets Insider reported that shorting oil may result in significant losses if demand rises as expected.

Furthermore, Investing.com commented that sentiments among energy investors have notably soured.

According to Quantum Commodity Intelligence, speculative positions in Brent crude have flipped to net short amid fears of declining demand.

Bloomberg also highlighted that hedge funds have turned most bearish on diesel and gasoil on record, reflecting wide-reaching concerns.