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OIL
Brent open interest has regained some ground after seeing a drop to the lowest since Jan as a sign of position closing before the end of the year according to Bloomberg. Brent aggregate futures open interest has fallen from a high of 2.335m in September back to a low of 2.01m on Dec 5 before recovering back to 2.079m on Dec 6.
- WTI crude futures aggregate open interest is holding onto gains seen in late November at around 1.66m yesterday compared to a low of just below 1.55m on Nov 21.
- Brent aggregate daily traded futures volumes have this week averaged just above normal at 1.15m compared to the average daily volume in November of 0.99m. WTI volumes were yesterday down at 0.76m compared to an average of 0.91m this week and 0.78m in November.
- ICE Gasoil futures open interest continues to edge higher up to 0.647m while Nymex RBOB gasoline futures open interest remains stable at 0.341m.
- Daily traded volumes on ICE Gasoil have averaged 299k this week compared to 275k in Nov and Nymex RBOB at 156k compared to a Nov average of 145k.
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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