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Crude Net Longs Reduced but Products Increase

OIL

The trend for the reduction of managed money net longs in Nymex WTI and ICE Brent crude continued in data released late on Friday. Crude positions are showing the bullish bets at the lowest since 2020 whereas gasoil and gasoline positions have increased from lows in recent week.

  • Nymex WTI net longs fell by -13k to 153k.
  • ICE Brent net longs fell by -13k to 124k.
  • ICE Gasoil increase by +12k to 62k.
  • Nymex gasoline increase by +8k to 61k.

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