HeatOil/AUD

Oil climbed for a second day as hedge funds piled on bets that tightening supplies will see a resumption of the rally after a pause last week. West Texas Intermediate futures rose as much as 0.7% to trade above $90 a barrel. Hedge funds boosted their bullish oil positions to the highest since February 2022 on the back of higher prices and easing volatility, ...

Saudi Arabia’s crown prince Mohammed bin Salman shrugged off accusations of “sportswashing” made against his oil-rich kingdom — and signaled he’s more interested in making money than in laundering his reputation. “If sportswashing [is] going to increase my GDP by way of 1%, then I will continue doing sportwashing,” Salman said in a wide-ranging interview ...