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Crude Net Long Positions Increase

OIL

Brent and WTI Managed money net longs both increased last week

  • Brent increased 13.4k to 210.4k and WTI increased 7.2k to 283.2k.
  • At the end of April WTI net longs fell to the lowest in 2 years but have gradually built back up as oil market volatility has stabilised. Potential demand growth combined with continued supply concerns is supporting market prices.
  • Brent net longs are now the highest since the start of March.

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