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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.
OIL POSITIONING
Crude managed money net long positions fell to the least bullish in data back to March 2011 amid bearish pressure driven by concern for a market surplus next year and uncertainty over OPEC+ member commitment to voluntary cuts. The combined net long positions for Brent and WTI fell by -59k to 149k with Brent down to the lowest since December 2022 according to the Commitments of Traders data released on Friday.
- Short only positions rose to the highest in almost four years while long only positions continue to fall.
- ICE Gasoil, Nymex diesel and Nymex gasoline long positions also all decreased on the week with ongoing demand weakness weighing on markets.
- ICE Brent net longs fell by -45k to +98k
- Nymex WTI net longs fell by -14k to +73k
- ICE Gasoil fell by -12k to +1k
- Nymex diesel fell by -10k to +19k
- Nymex gasoline fell by -7k to +58k
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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