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Crude Net Longs Ease Back from Peak

OIL POSITIONING

Crude managed money net long positions have fallen back from the highest since March 2022 last week according to Commitments of Traders data released on Friday. The combined net long positions for Brent and WTI decreases by -32k to 492k as WTI dips and Brent falls back to the lowest in five weeks.

  • ICE Gasoil net long positions edged down again to the least bullish since 18 July but Nymex diesel positions were the most bullish since Oct 2021. Nymex gasoline net longs are still at the least bullish since early July.
    • ICE Brent net longs fell by -25k to 218k
    • Nymex WTI net longs fell by -8k to 307k
    • ICE Gasoil fell by -0.5k to +49k
    • Nymex diesel increased by +2k to +40k
    • Nymex gasoline fell by -3k to 51k


Source: Bloomberg

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