Free Trial

Fall in Crude and Product Net Longs

OIL

Crude and refined product managed money net longs all saw significant falls in data released late last week. The bullish bets across all main oil markets have reduced over recent weeks as recessionary risks have increased and as high fuel pump prices have started to show an impact on demand.

  • Nymex WTI fell by 42k to 201k and the lowest level in over two years.
  • ICE Brent net longs fell sharply by 54k to 143k, the lowest since Nov 2020.
  • ICE Gasoil fell by 10k to the lowest since Dec 2020 at 65k.
  • Nymex gasoline fell by 8k to 45k, the lowest for 10 months.

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.