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OIL
Brent crude managed money net long positions increased again last week with short only positions falling ahead of the OPEC+ meeting according to Commitments of Traders data released on Friday.
- The combined net long positions for Brent and WTI however fell by -30k to 243k with WTI positions down to the least bullish in ten weeks.
- ICE Gasoil managed money net positions turned more bearish with global demand concerns still in focus.
- ICE Brent net longs increased by +23k to 160k
- Nymex WTI net longs fell by -32k to 111k
- ICE Gasoil fell by -11k to -22k
- Nymex diesel increased by +2k to +8k
- 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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