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COT Data Showed Pick Up in Crude Net Long Positions

OIL

Commitment of trader’s data released on Friday showed a recovery in managed money net long positions from the lowest since 2020 the previous week. Supply issues have come into focus over the last week after Saudi raised the prospect of OPEC production cuts at their next meeting on Sep 5.

  • Nymex WTI net longs increased by +30k to 183k.
  • ICE Brent net longs increased by +30k to 154k.
  • ICE Gasoil increase by +15k to 76k.
  • Nymex gasoline increase by +5k to 66k.

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