Bloomberg Crude markets are taking oil optimists by surprise yet again. Hedge funds boosted bets on a rally just before West Texas Intermediate prices tanked from a report showing surging American stockpiles. Wagers rose 7.3 percent to the highest since April in the week through June 6, US Commodity Futures Trading Commission data show. The next day, futures fell the …

Bloomberg Oil steadied after a third weekly loss on speculation that sustained drilling by US producers will blunt efforts by OPEC and Russia to re-balance an oversupplied crude market. Futures were little changed in New York after sliding 3.8 percent last week. Inventories are declining and reductions will accelerate in the next three to four months, Saudi Arabia’s Energy Minister …

Bloomberg As Qatar grapples with deepening diplomatic isolation, Japanese liquefied natural gas buyers are pushing the world’s largest seller for cheaper supplies. Both Jera Co., one of the biggest LNG purchasers, and Tokyo Gas Co. haven’t decided if they’ll sign new deals with Qatar to replace current contracts that begin expiring in 2021, according to executives from both companies. The …