Hedge funds anticipate Middle East conflict, sell energy stocks - Goldman

Hedge fund managers were selling U.S. stocks sensitive to commodities at an accelerated pace in the week ending October 6, just before the price of oil surged more than $3 a barrel following the largest military assault on Israel in decades. The eruption of violence threatened U.S. efforts to broker a rapprochement between Saudi Arabia and Israel, potentially impacting oil output. Hedge funds have been selling shares of U.S. companies in the energy sector for the second consecutive week, according to Goldman Sachs.