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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL POSITIONING
Managed money net long positions in Brent and WTI crude increased to the highest in two months according to the commitment of traders data released on Friday.
- The combined net long positions on Brent and WTI increased by 80k to 396k. Net longs for Brent were the highest in ten weeks while WTI showed the largest weekly increase since August.
- The increase comes as futures prices have rallied due to optimism for Chinese oil demand, uncertainty over Russia output following sanctions and a weaker US dollar with the Fed potentially reaching the end of rate tightening soon.
- Nymex WTI net longs increased by +26k to 182k.
- ICE Brent net longs increased by +55k to 212k.
- ICE Gasoil increased by +12k to 70k.
- Nymex diesel increased by +1k to 18k.
- Nymex gasoline increased by +1k to 57k.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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