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COT: Crude Net Longs Increase, Gasoil Falls Further

OIL

Crude oil managed money net longs have recovered slightly in data released late last week. The last couple of weeks had seen the lowest levels in about 18 months. Bullish bets on Nymex Brent and ICE WTI are however still low due to recessionary risks and as high fuel pump prices are impacting demand. Net longs in ICE Gasoil however continue to fall to their lowest since August 2020.

  • Nymex WTI increased by 12k to 227.6k
  • ICE Brent increased by 15k to 154.8k
  • ICE Gasoil fell by 3k to 55.7k.
  • Nymex gasoline increased by 2k to 48.5k

Source: Bloomberg

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Crude oil managed money net longs have recovered slightly in data released late last week. The last couple of weeks had seen the lowest levels in about 18 months. Bullish bets on Nymex Brent and ICE WTI are however still low due to recessionary risks and as high fuel pump prices are impacting demand. Net longs in ICE Gasoil however continue to fall to their lowest since August 2020.

  • Nymex WTI increased by 12k to 227.6k
  • ICE Brent increased by 15k to 154.8k
  • ICE Gasoil fell by 3k to 55.7k.
  • Nymex gasoline increased by 2k to 48.5k