伊朗+寒冬，对冲基金猛增原油多仓

Group 1 - Hedge funds are accelerating their long positions in crude oil due to geopolitical tensions and severe weather disruptions [1][3][8] - The net long positions in Brent crude oil have reached the highest level in nearly 10 months, with an increase of 19,409 contracts to 377,371 contracts as of January 27 [2] - The winter storm has caused significant operational disruptions in several refineries along the Gulf Coast, impacting domestic production and leading to a peak loss of nearly 2 million barrels per day [8] Group 2 - The geopolitical risk from the U.S. government's military posture towards Iran has been a key driver for the current bullish sentiment in the oil market [3] - The options market shows a high implied volatility premium for call options over put options, indicating traders are buying protection against potential price increases [6] - The futures curve for both major oil benchmarks has steepened, suggesting market expectations of tight near-term supply [7] Group 3 - The cold wave has tightened supply while simultaneously stimulating demand, particularly for heating oil, leading to a shift in the diesel market towards net long positions [9]