The annual five-day rebalancing of portfolios beginning on Friday could attract as much as US$9 billion buying into crude oil contracts, putting upward pressure on oil prices, investment banks and analysts tell Bloomberg. The rebalancing of indices to adjust the weighting of assets in portfolios is being done every year so that target allocations or risk levels are restored.
However, the rebalancing this year could attract more than usual buyers into crude oil contracts because of the 20-percent decline of oil prices during 2020. According…The Next 5 Days Could See A Buying Spree In Oil Futures
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