Free Trial

Demand Concerns Drive Decline in Crude Net Longs

OIL

Managed money net long positions in Brent and WTI declined in the latest commitment of traders data released on Friday. Oil demand concerns from China and due to global growth concerns have driven crude prices lower. Closing out of longs positions has helped push the prompt spreads towards contango with WTI turning negative on Friday.

  • Nymex WTI net longs fell by -22k to 192k
  • ICE Brent net longs fell by -29k to 209k
  • ICE Gasoil fell by -6k to 54k
  • Nymex diesel fell by -2k to 28k
  • Nymex gasoline fell by -4k to 57k

To read the full story

Close

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.