Hedge funds are clearly bracing for even harder times for the battered oil market as bearish bets keep piling on. According to data from research firm S3 Partners, short sellers have added more than $460 million to their short-interest positions since the start of February, with short positions tripling since the beginning of the year. This represents the largest move of its kind in the sector since June 2019 when the oil market first sunk into bear territory. And it’s a clear indication that money managers believe the energy market woes are far from over. Investor disenchantment with the U.S. oil and gas sector is old news, though it now appears to have reached a fever pitch. Saddled with a high debt burden, which–coupled with its checkered record of paying back investors and the inability of many producers to spend within cash flows–has made the sector fall out of […]